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American Depository
Receipts
By
www.candlestickforums.com
America depository receipts (ADR fs)
represent ownership of shares of a non-
 United States company that trades in
    United States financial markets.
 Many foreign stocks trade on US stock
   exchanges as level II or III ADR fs.
Through the purchase of American
  Depository Receipts US investors can
     buy shares of promising foreign
  companies without needing to change
to foreign currencies, collect dividends in
foreign currencies, and deal with a stock
      broker in a foreign language.
Owners of American Depository
   Receipts receive dividends in US
dollars, buy and sell just like buying
 stock and selling stock of American
  companies. In additiontraders can
     follow these foreign stocks
  with technical analysis tools such
as Candlestick analysis just like they
          do with US stocks.
American Depository Receipts are
 issued by one of four US depository
banks, the Bank of New York Mellon,
      Citibank, Deutsche Bank or
JPMorgan. ADR fs represent a share,
multiple shares, or a part of a share
   of the foreign stock in question.
The owner of an American
Depository Receipt can, in fact,
request and receive the foreign
 stock that the ADR represents
   but that really defeats the
purpose and ease of trading an
              ADR.
The American Depository Receipt tracks the price
     of the foreign stock in its home market,
 adjusting for currency rate variation. As an ADR
   represents a foreign stock both fundamental
  analysis of the foreign company and technical
     analysis of market pricing in the USA are
    valuable in trading these replacements for
                   foreign stocks.
It is level II American depository
receipts that are typically traded on
 US stock exchanges. Unsponsored
shares and level I ADR fs are traded
       over the counter. This is a
  convenient way for many foreign
   companies to have their stocks
           traded in the USA.
However, foreign stocks below
the level II cutoff have minimal
reporting requirements and the
  trader or investor dealing in
  these has many of the same
problems as with penny stocks
 investing on the OTC market.
Level II ADR fs must meet SEC
  filing requirements and are
delisted from stock exchanges if
   they fail to do so. Level III
   ADR•fs are typically from
   companies that are raising
  capital in the USA by selling
               stock.
They are subject to much more strict
    reporting requirements, similar to
     American companies. Thus those
interested in trading ADR fs or interested
      in long term investingin foreign
  companies will be able to trade level II
 and III American Depository Receipts on
            a US stock exchange.
Trading stocks through the use of
 American Depository Receipts allows US
  citizens access to promising means of
picking offshore investments. Level II and
 III ADR fs provide sufficient information
       for investors and traders to do
   adequate fundamental and technical
          analysis of these stocks.
It will be possible to not only
     determine a foreign stock
 fs margin of safety and intrinsic
   stock value but to be able to
follow profitably with Candlestick
           patterns as well.
Application ofCandlestick trading
tactics is possible with ADR fs as
 well as other US based stocks
    trading on US exchanges.

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American Depository Receipts

  • 2. America depository receipts (ADR fs) represent ownership of shares of a non- United States company that trades in United States financial markets. Many foreign stocks trade on US stock exchanges as level II or III ADR fs.
  • 3. Through the purchase of American Depository Receipts US investors can buy shares of promising foreign companies without needing to change to foreign currencies, collect dividends in foreign currencies, and deal with a stock broker in a foreign language.
  • 4. Owners of American Depository Receipts receive dividends in US dollars, buy and sell just like buying stock and selling stock of American companies. In additiontraders can follow these foreign stocks with technical analysis tools such as Candlestick analysis just like they do with US stocks.
  • 5. American Depository Receipts are issued by one of four US depository banks, the Bank of New York Mellon, Citibank, Deutsche Bank or JPMorgan. ADR fs represent a share, multiple shares, or a part of a share of the foreign stock in question.
  • 6. The owner of an American Depository Receipt can, in fact, request and receive the foreign stock that the ADR represents but that really defeats the purpose and ease of trading an ADR.
  • 7. The American Depository Receipt tracks the price of the foreign stock in its home market, adjusting for currency rate variation. As an ADR represents a foreign stock both fundamental analysis of the foreign company and technical analysis of market pricing in the USA are valuable in trading these replacements for foreign stocks.
  • 8. It is level II American depository receipts that are typically traded on US stock exchanges. Unsponsored shares and level I ADR fs are traded over the counter. This is a convenient way for many foreign companies to have their stocks traded in the USA.
  • 9. However, foreign stocks below the level II cutoff have minimal reporting requirements and the trader or investor dealing in these has many of the same problems as with penny stocks investing on the OTC market.
  • 10. Level II ADR fs must meet SEC filing requirements and are delisted from stock exchanges if they fail to do so. Level III ADR•fs are typically from companies that are raising capital in the USA by selling stock.
  • 11. They are subject to much more strict reporting requirements, similar to American companies. Thus those interested in trading ADR fs or interested in long term investingin foreign companies will be able to trade level II and III American Depository Receipts on a US stock exchange.
  • 12. Trading stocks through the use of American Depository Receipts allows US citizens access to promising means of picking offshore investments. Level II and III ADR fs provide sufficient information for investors and traders to do adequate fundamental and technical analysis of these stocks.
  • 13. It will be possible to not only determine a foreign stock fs margin of safety and intrinsic stock value but to be able to follow profitably with Candlestick patterns as well.
  • 14. Application ofCandlestick trading tactics is possible with ADR fs as well as other US based stocks trading on US exchanges.