Following the correction off the recent high of $4.05 I posted that the correction should end at the 50 day MA, but did not rule out a bear raid that would take us back to the 200 day MA, which clearly is what happened.
Three things are now apparent in the current chart:
1. Looking at the second longer term chart we can see that since the beginning of the year we have had a series of higher highs $3.38 on 2/3, $3.56 on 3/23, and $4.05 on 6/29...and a series of higher lows $2.48, $2.65, and $2.76. This is a solid technical pattern that should lead to another higher high on the next run up.
2. On the top chart we have a new MACD buy signal with the short term line crossing over the longer term line. Looking back to when this occurred in March and June, we had two large percentage moves in the stock price. In fact they were almost identical at 44% and 45% off the lows at the time.
3. The only negative currently is the money flow indicator (CMF) which is in the red. but as one can see that is rising off the lows and in fact this indicator was also in the red during the March increase of 44%. I would expect that this will head into the green over the next week or so.
So it appears that the correction is over, a new buy signal has been generated and IF the pattern holds we should see another higher high on this next move up.
In my experience TA is just another tool to use in making decisions. It is not infallible by any means. But combined with the recent quarterly rev beat and the encouraging continuing positive script growth, it appears that we are indeed headed higher.
The only caveat is that historically and seasonally, September is the worst month for the stock market. This could delay the move to new highs, but IMO it won't prevent it.
We will see.
avnr was the one who tried to prevent jeandoyon's posting of IMS number several months ago, and nearly succeeded, except he didn't count on how muleheaded Jean was/is. :)
You know they have cream for that don't you? I think one of your friends tradestoxx even mentioned Nuedexta worked for jock itch. You should go down to your local drug store and pick up some Robitussin and rub it in real good and maybe Avanir will start a study next year.
You should have a disclaimer that Avanir does not sell Robitussin because we wouldn't want anyone getting confused by the lack of revenues!
It's kind of like cough medicine, well ok it is like cough medicine.
Aren't you the guy with the bogus WK numbers that got everyone excited for 2,500 weekly scripts that didn't happen?
Aren't you the guy that disappears when script numbers are down and disappears anytime the stock is plummeting?
Aren't you the guy that already has thrown out excuses for why script numbers will be down next week, just in case?
Here are the names of the three Wedbush analysts covering AVNR. I am certain they will be happy to verify for you all of the WK data I posted:
Gregory R. Wade,
David M. Nierengarten,
Christopher N. Marai, Ph.D.
These analysts are in the SF office. I could give you their direct dial #'s but out of repect for them I will not post them here. However, here is the main number for the Wedbush Research Dept. in LA(213)688-4505. If you are nice they might let you speak to one of them.
Looking forward to your apology.
Aren't you the guy that mentioned revenue beat on analyst expectations that have been revised down numerous times since 2010? Last time I checked it's pretty easy to jump over a flea.