ADIL - Retrace To Support - Good Entry?

lwlagrange Updated   
NASDAQ:ADIL   Adial Pharmaceuticals, Inc
ADIAL saw an increase in volume and runup to 3.30 after which we saw a retrace to the 2.18 support level that held nicely. The upward trendline has been holding consistently on the daily and weekly charts. I am looking for a bullish engulfing or gap up opening with retrace to higher low to confirm the breakout continuation to test resistance at 2.82. If we can break through the 2.82 resistance level, I am looking for a price target of 3.30.
Note: Earnings reports due on the 03 of March will make or break this breakout. If we get positive earnings this breakout could be significant.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.