There is some solid accumulation occuring with this stock. IMO its not just the day traders given the strong finishes and bullish candles. The on balance volume is now approaching all time highs currently at 759m.
It appears that several investors (or perhaps one major) are taking their positions with trades circa $150,000 in value not being uncommon.
Hopefully this is a sign of smart money moving in. Not too much scrip on issue and relatively tightly held (with a significant chunk held by management or related entities). All of these technical factors paired with the excellent fundamentals which need no reintroduction spell out solid foundations for a bullish run on news.
In saying this and as exciting as it is to gain 10% a day I would not mind a nice consolidation to build a good base off which to run longer term or for the chance to possibly load up even more :). Blue sky after 10.5ish on the charts it may be a little bit of grind up to that mark though but given past trading days and volumes it wont be too long.
Overall the excellent fundamentals continue to underpin this stock and the technicals are looking good. Good luck to all!
ADO Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
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