ADIL - Low Conviction; High Upside Screener brought to my attention, volume looks great, and to me, the chart looks primed for a bounce. I dug into the fundamentals and they seem solid.
On the charts, looks like we're forming an ascending triangle and it is now at the bottom of the trend line. The price from the bottom back in Feb bounced hard when they got a patent for awarded for potential to treat opiod us disorder. On this news, the price ran 445% in 4 days to form a pole for the bullish flag. Super Strong. Price action then trended down and bounced again with an EP of 106%. Super strong again. All the moving averages are converging and there just dropped some big news that they got a new patent in April for the alcohol disorder as well. There has been some massive volume that leaves the traces. On the 3 days back in Feb when the price ran for 445%, there was a total of 218 million in volume. On the 3 days prior to that, there was a total of 337 thousand in volume. That is a 646x increase. Some days back in January had 8k in daily volume and this news led to 111 million in a daily candle. This is still only a 2.8 million dollar company and I think this is a potential monster gainer. Earning are today and I think we could be in for a big bounce.
