I think what you are looking at here might be a sub-wave...

I think what you are looking at here might be a sub-wave although as waves are factal and whether they are waves of a principal cycle or sub-waves of same they can be annoyingly difficult to count sometimes. I suspect price might be rising on sub-wave 5 with the top of Wave 1 ahead. Anyway, it all means the same thing - there is a good chance price may rise for a time. I'd like to see price go above $0.105 because s an alternative view is that price could drift lower if the recent high is the top of a small Wave 1 (I'd expect W2 as you've marked it to fall further over more time).
Charting low value stocks like ARV can be notoriously difficult but might be tempted to buy if price went above $0.105 as I can see a short term target of $0.14.
Interestingly, the sub-wave top marked (3) on my chart is exactly a 361.8% extension of sub-wave (1) - which is why I see that as the top of SW3 and not SW5 (and top of W1)
Good luck with it.