Adial Pharmaceuticals, Inc (ADIL) Social Stream

Adial Pharmaceuticals, Inc (ADIL): $0.39

-0.01 (-2.23%)

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$ADIL What to look for in the upcoming weeks.

This is ADIL on the 1 hour chart.
ADIL has had a parabolic reversal after hitting a double bottom on 8/4/21. It’s currently on an ascending channel but is testing key resistance lvl around the $3.30s range.

During its parabolic run, its had a daily retracement lvl of 38%.
On the 1 hr chart, a slight OBV divergence might be setting up. However on the 1 day candlestick, RSI has not had a divergence yet and could help push price action over resistance lvl.

The good news is that the volatility in daily price action does not exhibit algo trading but rather low liquidity.

In summary, it’s currently testing key resistance lvl and will need retail to break above as smart money might be waiting for a retracement. If it is able to convincingly break above resistance lvl, price action might have a day or two to remain in an ascending channel before true retracement sets in.

Note that volume has yet to return so this is a good early @H2O
CGTC, published August 14, 2021

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