Potential outside week and bullish potential for ADT

Entry conditions:
(i) higher share price for above the level of the potential outside week noted on 21st February (i.e.: above the level of $4.41).

Stop loss for the trade would be:
(i) below the low of the outside week on 19th February (i.e.: below $3.97), should the trade activate.

Note

UPDATE (week ending 28-Feb): Share price has not traded above $4.41 - no action as yet - watch and wait.

Trade active

UPDATE (week ending 07-Mar): Trade activated on 4th March and pulled back the next day to provide a reasonable price entry. Quite an interesting trade actually since it's an outside week, as noted above, but also a Darvas box activation as well whilst reaching a 200 day high and closing strong at the end of the trading week above both 10 and 30 day MA's. Newer highs formed during the week, with suggestion to raise stop to $4.13 ($0.17 above one tick beneath Darvas box formation), which aligns well to a point beneath prior resistance (now support) of $4.15 from the open of 22nd January. Trade now upgraded to a 'further bullish potential' trade.

Note

UPDATE (week ending 14-Mar): Newer highs formed during the week, with suggestion to raise stop to $4.23 ($0.27 above one tick beneath Darvas box formation), which aligns well to a point beneath prior resistance (now support) of $4.25 from the open of 13th December.

7 days ago

Note

UPDATE (week ending 21-Mar): No newer higher formed during the week, however the share price closed above both 10 and 30 day MA's at the end of the trading week, with the share price successfully testing the 30 day MA multiple times during the week from the topside, which is a positive sign. Do note, however, that the momentum appears to be draining away from the stock's ascent, considering the RSI has turned to a downward trajectory and the ADX (orange line of the bidirectional DMI indicator in the chart above) has flatlined, even though the blue line +DI is now above the red line -DI indicator. Do also note that TradingView has an event listed for 27th March, presumably 1st quarterly report, for anyone risk averse.

9 hours ago

Note

UPDATE (week ending 28-Mar): Newer highs formed during the week, with suggestion to raise stop to $4.30 ($0.34 above one tick beneath Darvas box formation), which aligns well to a point beneath the prior swing low of $4.32 from the 18th March. It's interesting to note that momentum appears to be shifting back into the share price from the latest move, however do be aware of potential resistance at $4.81 from the open of 22nd May 2024 overhead (which may be currently being tested by the long tail from Friday's price action).

Ivory_Wolf

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Ivory_Wolf

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