MATRIX Penny Stocks

[livermore4ever]

ADSX, Technical Update

Hi !

ADSX has been making some irregular moves…
In the last two months, it was trading inside an ascending triangle pattern, this type of formation is usually broken on the upside, generating buying signals…
This time, ADSX broke the bottom of the pattern (ascending support), and has generated an negative price target on the 1.85 zone (valid for 2 months).

The main references are:
2.40 – The break down point, now a resistance level
2.75 – the main horizontal resistance
2.03 – the short term / intraday support level
2.13 – the short term / intraday resistance level
1.85 – the main target of this bearish move

Take a look at the chart in order to understand this values:
http://globalspeculators.com/trading_futures/index.php?topic=29.0

I’m neutral on ADSX, waiting for a technical signal… or for a nice buying opportunity below 1.85

Best regards,

Jesse Livermore
http://globalspeculators.com