180
Namaste Technologies Inc.
(OTC: NXTTF)
One stock that has been a hot topic of conversation for just about everyone in the sector would be Namaste. In less than a couple of months time the value of the stock has gone up over 10 times. Yes, you heard me right, over ten fold in less than a quarter. You might be scratching your head wondering what were the signs and how can I see this coming for its next leg up or perhaps another stock about to go on a similar journey. Luckily we do have some technical aids we can use to help us find such rockets before they kick into high gear. Today we are going to take a look at the Accumulation Distribution Line (ADL) and how it can be used to to help spot rockets before they leave for higher altitudes.
The ADL in nutshell helps us figure out if there is more selling or buying pressure. You should note that the ADL can be used for both helping to confirm a bullish or a bearish move, but in the case on Namaste we already know we are talking about a major bull move. One other thing I want to point out is that the ADL is not necessarily the best tool to use for a chart that has lots of gaps, luckily for us this was not the case for Namaste prior to the pop. Aside from using the ADL to debunk price movements we can help use the indicator to foreshadow what’s to be. How do we do that, well we can draw trendlines on the ADL, and when it pokes its head above the line and you notice the price and volume for example as additional confirmation starting to align, then we can use this as our cue to get on the shuttle before it takes off to higher places.
Note: The chart uses OTC: NXTTF - this is the same company