Stock Chart Analysis AVNR

Posted by downtowntrader | 10/07/2007 08:45:00 PM | 0 comments »

Stock Chart Analysis AVNR

AVANIR Pharmaceuticals (Public, NASDAQ:AVNR)

AVNR recently cleared a down trend channel and attempted to breakout. It paused at horizontal resistance and backed it's way to test the trend line again. It's at a point where the true trend should emerge. It will either pull back again and possibly keep drifting back down, or it will surge forward over the $2.50 area. Either scenario is pretty clearly defined, so at a minimum there shouldn't be too much guesswork here.

Good Trading,


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