What can be seen on the daily chart of Adept Telecom Plc LON:ADT over recent months is the way that there have been plenty of positive developments in terms of the charting configuration. As far as one of the best technical boxes that are being ticked at the moment we can say that the recent chapter here started off with a golden cross buy signal between the 50 and 200 day moving averages in December.
This was followed by double test of the 200 day line currently a £1.35 over February and March. The latest developments include a bull flag breakout potentially above the 50 day moving average £1.53, with this feature also being the end of day close stop loss on the buy argument currently.
There is also plenty of support in the £1.50 area from what was previously resistance for the shares in 2013 and the beginning of last year.
Therefore over the next 2 to 3 months one would be looking for a decent move to the upside to target the top of the 2013 rising trend channel as high as £2.50. Any weakness towards the 50 day line in the interim would be regarded as a buying opportunity for Adept Telecom Plc LON:ADT given the extended positive set-up for the shares over recent months.
AdEPT Telecom plc LON:ADT is a provider of telecom services. The Company’s customers are commercial and the public sector, including central government, local government, health, education, devolved administrations, emergency services, defence and not for profit organizations. It offers calls, lines, and data connections, ranging from 2 megabyte broadband through to a 10 gigabit optical connection, broadband and SIP (Session Initiation Protocol) in which calls are carried over IP networks using data connectivity instead of telecoms’ network. The Company also provides cloud-based contact center solutions to the airline, travel, cinema and insurance sectors.