Gap ups with volume is a bullish trend in my opinion. This could be more dramatic (with conviction) if candle has opened in previous low as this will form a very tall white candle. With ADS' plays in AMEX providing the initial trading trend for oz market, breakouts will be dramatic i.e. with high volatility in any announcements.
Lastly, if the volume and liquidity is maintained, this is a continuing short term trading opportunity.
Resistance:
US ADRs has a resistance @ US1.5 was tested (pierced) with relatively good volume. This is will be tested multiple times if not followed by announcements which will provide the lift for a breakout.
All in all, technicals and fundamentals are lining up for support short term upside momentum.
SSN Price at posting:
7.3¢ Sentiment: LT Buy Disclosure: Held
