The break up I was hoping for back in October never happened, but ADO is making another try at $0.30 resistance. A break higher would suggest a target of $0.45 but with price having taken a tumble last week it could be that price is thinking about testing $0.20 again.

ADO 9Jan21

22 October 2021

ADO is a speculative stock that I wouldn't normally trade but for whatever reason I quite liked its potential. Price seems to have made a Wave 1 and 2 in terms of Elliott Wave and, if correct, this would mean price is on W3 which is the strongest rising wave of a price cycle. Price has broke above a downtrend which is a buy signal and it has also made a higher trough. Should price continue to move up through $0.30 it will make a target of $0.39.

ADO 22Oct21


Robert Norman

Phone: 0428 346 951

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