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Gold/Mining/Energy : Canadian Position Trading-looking for technical breakouts.
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To: seismic_guru who wrote (21)6/12/2000 3:19:00 PM
From: Vitalsigns  Read Replies (1) of 128
 
ADX:TSE

Stock reversed of the $1.05 support on May 30th followed by increasing volume and increasing prices. Breakout above $1.48 happened June 6th on 400,000 shares (2.5 times average volume) . It hit a high of $1.89 and has been pulling back ever since on lower volume. We hit $1.50 today which was the next support area to test. A move up from here would retest the $1.90 area which would be the setup to the $2.50 area .

We also have a reverse head and shoulder formation with a measurement to $2.55

ADX has many large impeding NR's to come and the Final Prospectus was filed last week which means the quiet period is over. They will open one maybe two internet portals by fall (90 days).

I have been accumulating a Large position since it hit $1.50 on May 25 th and average cost so far is 1.23

their is little reason to believe that the current up trend is a head fake because the stock is trading at 1 times 1999 sales 65 million and .5 times 2001 sales forecast $135 million .

I see ADX trading in the $2.50 area by end of june to 1st week of July.

I do post a lot on the Stockhouse ADX thread just so you know in advance but felt i should bring up the chart info for you guys.

vitalsigns


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