ANO - Bullish Trade PlanI am expecting ANO to move higher in the next few trading sessions. Price has been getting supported above the 200SMA and 50SMA and has been consolidating and volume is also picking up. Price initially broke out of the Bearish Trendline with very High Volume and MACD has also crossed, giving a Bullish signal. My trade plan is as follows:
TP1 - $$4.60 (potential gain 8%)
TP2 - $$4.90 (potential gain 15%)
Stoploss - $3.90
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ANO trade ideas
ANO could be about to form a new trendDescending wedge formation. Will be keeping a close eye on this one for a bounce lower off the trend. Alternatively a break above could signal a new trend. I'd be looking for the new trend to for before entering so a clear break above 4.99 resistance will give me the confirmation. Point of control converges right on the trend line so expect strong move either side.
$ANO - ADVANCED NANOTEK - Bit more in it?After a long period of consolidation its been having a nice run of late. RSI is probably a bit high but has pulled back so might be a good time for an entry if it retests the previous high and runs again. Worth a watch.
Advance Nanotek Ltd, formerly Advanced Nano Technologies Limited, manufactures aluminum oxide powder, zinc oxide dispersions and zinc oxide powder for the personal care sector. The Company operates in the Personal Care segment, which produces and distributes dispersions of mineral-only ultra-violet (UV) filters in cosmetic emollients used for sunscreen, skincare and pharmaceutical formulations, as well as alumina plate-like powders used for cosmetic applications. Its geographical segments include Australia, United States of America, Europe and Rest of the world. It focuses on suncare and skincare sectors. The Company's products include ZinClear and Alusion. It offers a range of transparent zinc-based UV filters in dispersion and powder form under the ZinClear brand. ZinClear range includes ZinClear XP, ZinClear IM and ZinClear XP dispersions. Alusion is a soft focus cosmetic pigment and plate-like aluminum oxide that is used in various applications, such as cosmetics and coatings.