This company has a great looking chart so I thought it'd be worthwhile creating a specific thread.
AD8 is currently in a classic consolidation pattern, we are seeing triple/quadruple bottoms and higher lows so the uptrend is still well intact. Some have mentioned CR overhang as the reason for the sideways movement but could be a range of factors, profit taking included. The longer AD8 trades in this ~$7-$8 range, the more explosive will be the move up IMO.
This tech company is firmly in the midst of the growth phase so those looking at PE for inspiration are misinformed. With that said it's incredible they are cashflow positive and turning a profit. They also stand to benefit from a weakening AUD/USD, which is having a great affect on their earnings.
Company developments and earnings growth will push this higher. keeping inline with balance though - on the flip side a break of $7 downwards would be bearish and it'd need to find support on the EMA before going lower.
AD8 Price at posting:
$7.37 Sentiment: Buy Disclosure: Not Held
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