Sure, there will be huge profit taking after the ~ 60 million volume traded yesterday for those entering @ 17 cents, hopefully they are in for the longer term profits. Looking at the market depth, i can't see 14 cents unless there is more negative news to spook investors. ADY hasn't been @ 14 cents since April 2007, the company has come a long way since then.
There was a good setup of a descending triangle breakout on the 26th March (Wednesday), but of course Fridays announcement screwed that up. Chart still doesn't look too bad, with Commodity channel index indicating that ADY is heavily oversold @ -160. Above 20 cents is where we want to be, maintaining this level of volume. It will then become a support level again.
Sure, there will be huge profit taking after the ~ 60 million...
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Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.66M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 437145 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 1042358 | 5 |
View Market Depth
| Last trade - 10.00am 22/08/2024 (20 minute delay) ? |
| ADY (ASX) Chart |
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