Quick look at ASX:DDD on a Sunday afternoon.
- After striking a deal to take over the Adelong Gold Project from receivers in 2020, ASX:DDD has been in an upward trend.
- The price has settled at around $0.005 after hitting heights of $0.01 in September 2020. This coincided with a number of overbought signals, as per the MFI.
- The volume profile indicates that the $0.005 price is a significant support level. This is backed up by the current 50 and 100 day EMAs, which are currently also acting as supports at around the $0.005 price level.
- In terms of what is next, the MFI is showing that ASX:DDD is heading toward oversold territory, which may indicate a price hike is in the wings.
- This could be fast-tracked by any price activity that flips the 200 day EMA from a resistance level to a support level, which could also be complemented by the 50/100 day EMAs crossing over the 200 day EMA (golden cross).