Fri 31.05.24

Still a bit more in the tank to give back. I am suspicious of there still being a little more to drop yet. What I'm really be looking for is the first waves 1&2 up to see how they form. This red bar this morning confirms the sentiment still hasnt turned positive enough yet for it to start its upward swing yet. There is definitely movement around this price point though as you can see by the Volume at this level. Note we are at the 38.2% level at $15.05. 50% retrace level of the stock since inception would be $12.45 ish

Im watching that tiny ABC down marked in Orange for now.

You will note the Pink horizontal support line @ $14.06 though. If it gets there I will probably start a position there.

Possible next price target down is $13.52 - $14.04

Also note this came in this morning on Trading View,

Well AD8 made my target, however I do feel there still could be another leg down. Thats purely because yesterday, Jefferies put a PT of $18 (that would take to a resistance level) and also the retrace from the top of major W1 hasn’t even reached 38.2% of W1. Ideally Id like to see it get down to 50% at least however its too early to look that far ahead. For reference, most W2 retraces drop to 61.8% of the prior major wave 1 up.

As you can see from my updated chart, I will be watching closely to see how the next wave up to that resistance takes shape. If it takes 3 waves up to it then I will be looking for a C wave down from that $18 level. I didnt take a position yesterday as I'd like to wait this out and see how it takes shape. Wave A-B will tell me more once it plays out. If your in then you may get 10% ish out of this leg up but watch for the resistance @ $18

Just had a chance to do my technical analyse of AD8. The chart below shows thoughts. without any extreme positive news. I will re evaluate the chart when it arrives there. The yelow line is the path I believe it will take roughly (may happen quicker or longer)

1d Chart