ScotianBot

Descending Channel Breakout for ADN?!?

NASDAQ:ADN   Advent Technologies Holdings, Inc
It appears as though ADN has broken flush to the upside of a descending channel which is drawn as two parallel declining lines drawn green on the chart, notice the rejection nearly exactly at the 200DMA.

On the KST there's a bullish cross where I've placed the green finger. More often than not when the KST gets this over-extended there's a sell-off immediately afterward with the rare exception of a continuation of s parabolic breakout on overwhelmingly bullish news.

A retrace to $1. 40 is likely to re-test and build support on top of old resistance.

Or we're going to see a re-test of the 200DMA and a blue sky breakout.

Price target & trading range between $9.00 to $0.60c between now and the end of the year.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.