Welcome to Free Daily Charts

www.chartchat.com.au. Please click this link and visit our website for 'Chart of the Week' selections and see how our notional share portfolio is performing using these stocks. www.chartchat.com.au is under construction with new features being added along with a subscription service to help turbo charge your investments decisions.

Thursday, February 01, 2007

ADN - Adelaide Resources (ASX)

ADN has consolidated along price support (blue line) and the 200 DMA. With the MACD and Stochastics in a bullish relationship a swing high breaking the descending trend line can be anticipated. A descending triangle pattern such as the one illustrated is generally considered bearish. However this i believe is an example where such a pattern will fail. A trade above the $0.515 level would trigger an entry for a possible swing high target of $0.65 - $0.69.