For the past year we can see that the market was not taking any price above 3.59. It mostly stayed between a range of 1.7 to 3.59. But recently the chart broke out on 9/19-9/23 and then started to fall back to its original range. the next couple weeks show promising strong movement. If it falls back into its yearly range it will stay there with 3.59 being its resistance. However if next week and can
trend upwards, then I believe AVDL has finally found new support and we will see a cup and handle pattern. Depending on what happens next week with AVDL, whether it falls back into its yearly range, I will short or go long. This is definitely on my watchlist. Currently I am looking to short, since we can see that there has been no uptrend this past month and AVDL has recently fallen below 3.59 so the cup & handle pattern is not every evident. But I still need to see more price action AND NEW LOWS to make my decision next week!
trend upwards, then I believe AVDL has finally found new support and we will see a cup and handle pattern. Depending on what happens next week with AVDL, whether it falls back into its yearly range, I will short or go long. This is definitely on my watchlist. Currently I am looking to short, since we can see that there has been no uptrend this past month and AVDL has recently fallen below 3.59 so the cup & handle pattern is not every evident. But I still need to see more price action AND NEW LOWS to make my decision next week!