ADAC is the the Penny Stock to Buy

A little penny stock ADAC took off last week to the tune of 160% closing one tick off the high of week at $.015 price. The stock appears to be moving off news that "Adama Technologies' CEO to Convert Debt Into Common Stock." The way these penny stocks are moving lately I wonder if this stock is worth watching for a potential play Monday morning. Well, lucky for you I have a opinion that I think you will want to see....

Now, if you have followed me for a while, you know I have a knack for calling the tops of runs while every other stock pumper out there is calling for these stocks to run to $1.00 or higher. I am sorry to say that is not my style. I care too much about my members and their hard earned money to be dicking them around with false pumps.

I stick with the facts based on what I see on the charts! So let me share with you what I see on this chart.

ADAC recently broke the 200 moving average line at $.01 on Friday and that was huge. That break was the key to us moving to a $.015 close which just so happened to be mental resistance AND the high from March. With that being said, its safe to say we will probably see some type of gap up this morning followed by a early run. If the stock has enough gas then $.018 may be doable with a top of $.02. My last possible target here is $.023 this is a mental area after $.02 and I think traders would start looking to sell for profits at these levels.

Now remember, each price above HAS to be broken on the BID side for the next price to be even considered. If the prices above are not broken on the bid side then we would consider that a sign of weakness and profit taking should occur in my opinion.

So, based on what I am giving you here my gut says this stock will start to fall very soon. Support on this stock is right around $.01 and $.007 so don't jump in too soon on the pull back, be patient and let the trade come to you.

I hope this article saves you from some of the "pumpers" out there that are calling $.50 cents or higher haha. Losers!

Who Is ADAC?
Adama Technologies Corp. (OTCBB: ADAC), a clean-tech company, today announced that Aviram Malik, the company's CEO, will convert his entire debt into common shares.

The debts have been created during the last two years of out-of-pocket financing by the CEO to establish a steady cashflow for the company's operations and to avoid unnecessary dilution to the company's shareholders.

The conversion rate will be $0.015 a share and will be converted in the upcoming weeks. The shares will be restricted under SEC regulation 144.

"The conversion of the debt shows good faith that the sale of the rights of our project should proceed as expected. It's a perfect time to increase my holding in the company," said Malik.

About Adama Technologies Corp.

Adama Technologies Corp. has decided to dedicate its time, abilities and means to the development of clean tech projects in various fields.