Ivory_Wolf

Potential outside week and bearish potential detected for ADT

Short
Ivory_Wolf Updated   
ASX:ADT   ADRIATIC METALS PLC
As noted in the latest video update for the week ended 01-Dec, detected in the latest scan for the week (detailed commentary and full scan results available in the signature below), ADT represents a potential bearish opportunity should momentum continue and newer lows be made past the current position. A potential outside week provides clear guardrails for possible entry into the trade, suggesting to await trade below recent lows for activation following observation of market reaction.

Suggested stop loss for the trade would be:
(i) above the outside week's upper range (i.e.: above $3.41 once activated below $3.10).
Comment:
As noted in the latest weekly video update for the week ended 08-Dec, an inside week was noted this week - trade may now activate below the low of this particular week - observe market reaction.
Comment:
As noted in the latest weekly video update for the week ended 15-Dec, trade had activated on 11-Dec which resulted in a quick 'in-out trade' over a couple of days since the share price bounced heavily off prior support of $2.79 from close of 15-Jun-2023. Important to be aware of key support/resistance levels and observe market reactions around these (remove from watchlist).

View latest weekly video updates:
- www.youtube.com/watch?v=A8YSUZjo7hA (Stocks and bonds - latest scans timestamped in comments)
- www.youtube.com/watch?v=QfOIt_7R-3c (Crypto review)

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