ADO 2.38% 2.1¢ anteotech ltd

technical analysis please

  1. 2,075 Posts.
    lightbulb Created with Sketch. 152
    Hi all chartists,

    From having a look at the weekly chart there seems to be, what look like to me, long legged doji's that have occurred over the past two weeks.

    The MACD's EMA crossed over the MA a couple of weeks ago and the RSI looks fairly neutral.

    From watching the shenanigans over the past couple of weeks, I have noticed that whenever there is a sell down then a small number of shares, between 50 and 200 is then bought off the higher sell stack.

    For example there was this afternoon 22,779 sold at 7.1 c at 3:18 and three minutes later there was 200 bought at 7.4c.

    This pattern occurred 4 times today and has been occurring for weeks

    From looking at the weak buy side with half the volume sitting in props at 5.9 and 6.0 cents, I wonder if ADO is being set for a tree shake to test the stop losses?

    Just my thoughts

    Anyone care to throw in some technical know how and a chart maybe?

    Has anyone seen this before?

    Is it a bull trap?

    Ok interested to hear your thoughts

    Over to you

 
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Last
2.1¢
Change
-0.001(2.38%)
Mkt cap ! $50.59M
Open High Low Value Volume
2.1¢ 2.1¢ 2.1¢ $5.215K 248.3K

Buyers (Bids)

No. Vol. Price($)
13 2958618 2.0¢
 

Sellers (Offers)

Price($) Vol. No.
2.1¢ 411867 6
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Last trade - 10.05am 03/07/2024 (20 minute delay) ?
ADO (ASX) Chart
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