why ady is getting support technically now

Hi friends,

First the necessary preliminaries:

There is ZERO fundamental content in this post. Please skip if you are a fundamental investor or long term position trader or if you do not subscribe to the technical analysis school of thought and do not wish to read any chart or charts. Thank you.

Now on to the discussion:

By drawing a series of gann angles from the intermediate and minor pivots of ADY, it is clearly seen that there is a convergence of the 1x2 gann angle lines with the 1x4 gann angle lines from various different pivots as shown on the chart below. These lines offerring strong support. At the same time, there is a cluster of prices forming a band marked in blue at around the same level, confirming a strong level of support. As to whether it is the suitable timing to enter at this low price, we can take a look at the divergence between the price and the stochastics indicator. Since there is the standard positive divergence between the stochastics and the price, we will likely see the price resolving in the direction of the indicator upwards very soon.

Here is the chart referred in my post:



Please read the disclaimer below my signature line. May the best prices be yours

dascore