Another under-$10 stock worth watching is Avanir Pharmaceuticals (AVNR), a pharmaceutical company focused on developing and commercializing therapeutic products for the treatment of central nervous system disorders. This stock has taken it on the chin so far in 2011, with shares off by over 28%.
If you take a look at the chart for Avainr, you'll see that this stock has been downtrending since mid-May, when it hit a high of $4.80 a share. Since hitting that high, shares of AVNR have been stuck in a bearish pattern, making lower highs and lower lows. That said, the stock just started to show some signs of changing that pattern. First, the stock has started to make higher lows since bottoming at $2.46 a share in August.
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