Make sure your chart is set to log (aka- semi-log) scaling, not linear (aka- arithmetic) scaling. At quick glance, it appears you are using log scaling. The trendline that I have coming off the earlier 2023 highs I have coming in higher than yours, in order to catch those reaction highs from early 2024.

Yes, trendline drawing is more an art than a science & I can see the downtrend line you have as valid, although it ignores those earlier 2024 highs that I fixed my TL to.

With that being said, I put a higher weighting on the 5.00 (horizontal) price resistance level. In fact, if you click on the ticker tag (AVD) below the post above, it will load all previous coverage of the stock. In my last update in Jan, I stated a buy signal to come on a break above 5.00 as well. The stock did break 5.00 shortly after that, ripped up to just below that first target/resistance (might have even made a full tag in the pre or post-market session) for a nice 25% gain & then reversed to make the new but still (even larger…i.e.- extended) divergent low & recently broke out above that minor downtrened line on my chart.

Next pop above 5.00 should spark a rally (again) with another reaction around 6.60 (again)… or not, as the stock has already had several there. Either way, reaction at 6.60 or not, the next pop above that level will likely spark a relatively swift move up to my T2 as the stock will be backfilling that big gap.