I would say todays action is driven by overall market sentiment, ARD has 1.4+ billion odd shares on issue and there is a lot of supply at 1.9 and 2 cents as we're seen today. Only one trade today was made at 1.8 cents at 3.59 PM today, 20 day moving average and 200 are trading in a tight band, ARD could fly on release of good news once the 20 day average pushes through the 200 day, signals are looking good. MACD reading a weak bearish signal with ARD not overbought or oversold but there's only $2.6 million left on the 5B Cash Flow Report issued in OCT 2024 so there will probably be another cap rise with high dilution in the next 3-4 months which will limit upside and I doubt there will be much news flow before March or until another drill program is commenced is my view.
ARD Price at posting:
1.8¢ Sentiment: Buy Disclosure: Not Held
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