Hi Hangas, yes from a "technical" perspective a move back thru 14.5 would be very bullish now. We sat at 14/14.5 for some time a few weeks back and couldn't crack it. Also the CR was at that level. So it doesn't surprise me that there are some big offers just above there and antbirds of that is being held back. BUT.....if it does test it again especially after this reinforced news then we could see it jump thru there IMO.
I keep on about it but there is still the gap to be filled up to 18 cents from the CR. From my experience in financial markets gaps are nearly always filled. This is a big gap.
So first things first - a test back to major resistance at 14/14.5 then a gap fill to 18. After that....., hopefully some news on some other projects to get us pushing thru historical highs. Then no doubt some takeover speculation will continue the drive.
I would love this to get a little more expensive to stop any low ball from offshore investors. Mind you management will be very reluctant to entertain any approach that doesn't come with a very healthy cheque IMO.
ADE Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held