ADO was then showing a hint of bullishness and ever since has simply continued with the same form.
Good follow thru was only three days later with that bar #(1). It was followed by the same bullish action, ie. reducing volumes/spread on declining price before lifting higher with bar #(2).
All the action looks quite similar, like a staircase, up on more down on less with the high volume up bars not having their lows broken.
This rally all began with that little bit of climatic action at (A). After rallying into a small AR it was then content with finding support on top of the buying at (A), the greyed box area.
Area (B) should be your area of most resistance, note the high volume over those four days with the following action all bearish with low closing bars. Would now be on the lookout for similar action to follow the current bar #(3).
dyor
ADO Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
