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Re: Biostockclub post# 3778

Wednesday, 04/26/2017 4:55:06 PM

Wednesday, April 26, 2017 4:55:06 PM

Post# of 11271
AVXL intraday today (april 26)


Always easier and better to discuss chart analysis at this forum.
youre most welcome to come here.

Today, a steady looking climb thru the day makes bullish price action look 'hopeful' ,but, price gets capped at the expected resistance level around 5.85. It could have been 5.90 as well, anywhere around there....and then starts to fade down into the end of day, not showing its true intention, but with cleverness,at 5.83,suddenly gets dumped down... the last 15 minutes,from 5.83 to 5.73. a 10 cent dump. but what was the important thing, is that it shattered the support line at 5.80. This kind of move, by the supercomputers,trading computers, Market Makers, hedge funds, whoever it was that "decided" to dump shares at 5.80 ,I take it as a warning signal, that the 5.80 critical balance line might now become dangerous for the rest of the week, as soon as tomorrow, watch now, to see what happens in the next bounce. will it get Capped now at 5.80 and in that critical balance line, could come the emboldened short attackers to jump in and drive it down into the next downwave that automatically hits the 5.60 again, and cascades thru the week to target 5.50 and who knows where the final bottom will be.

The whole topping zone, crafted by the technical trading, that started at the 6.49 peak, and so far has a bottoming area around 5.50/5.55, see how the peaks have rolled over around 6.20/6.18/6.15/6.10/6.05....now its 5.95/5.85/5.80.... a head and shoulder pattern, the 5.85 area is the resistance shoulder now. above that is the resistance shoulder at 6.00-6.20. Both will act with some resistance force, and that's why the 5.85 stopped there today.
a resistance roll over zone is a danger zone for the next downwave to start there. IF short attackers decide its the time and place to make their next effort , they will do it. IF we see a precision tweet bash timed for this from Adam F, you can count on a short attack to come. Maybe his next bash tweet wont come until it hits 6.00 or 6.16,I don't know. But I would watch the twitter tweets now from AF. or a bash article from seeking alpha.
This rollover zone from 5.85-6.20 looks worrisome to me, and the last week or two of downwave pressure has not made it feel bullish at all, the momentum is changing for the last few weeks, and this resistance shoulder zone around 5.90-6.20 is gaining force. every time price gets Capped in this zone, is a warning sign. and today we see this end of day dump....not a good sign. The powers are capping the bounces,as they capped the rally. IF they can generate a short attack or bleeding down, then this 5.70 /5.65/5.60/5.55/5.50 support zone might not Hold. and we would see the next lower targets in play at 5.40/5.30 area,with an eye to retest 5 dollars.
IF theres any chance to see a continued rally bounce reach the 6 dollar target resistance, its a sell zone now for me, to trim trading shares,at this 6.00-6.20 area, with expectation to buy at 5.30-5.00 area. I'd hate to sell trading shares at 5,85, I'd like to see it reach at least 6.05 before I take some profit off the table. but this resistance zone now is setting up at 5.85. Tomorrow will say a lot about where it goes from here, IF this 5.70/5.75 support Holds and IF we see the bounce break above 5.85 and make it to 6.00,then there is hope for support to hold. Its all a technical trading game ,a battle of computers on wall street, I don't know what will happen next, only that what we've seen so far is total capping of the rally and capping of the bounces, and a resistance zone on the technical chart now that could fail anywhere from 5.80-6.20 now. and get hammered down 1 dollar. In the larger picture, much to the shock of all the hopeful investors, the next 1 dollar downwave could be from 5.80 to 4.80 starting as soon as this week. The tricky ping pong up and down, on the technical chart, propelled by computer programs, and big money trading ,controlled manipulation, knows where they intend to take the price . all we get to ascertain,if its possible, are a few clues that look and feel like clues, to the danger zones,the indicators that show resistance overhead, as a warning for more short attacks to come. That's why these bash tweets by Adam F are actually a helpful signal,the warnings for the next short attack don't get any easier than that. On the chart now, since weeks ago, has been the warning resistance zone 5.90-6.20,the pivot steps in between, at 6.15/6.10/6.05 are all key steps that could be targets and could be the place to sell some trading shares.
The ONLY bullish energy on this chart is the support steps at 5.70 that are still looking like support holding, and the support steps at 5.65/5.60 and 5.55 and 5.50 that have not been broken down yet. The mental decision now, is to decide whether you "believe" the 5.50-5.70 support zone will hold ok, or whether the overhead resistance at 5.80-5.90-6.00-6.10 will get HAMMERED down into the next short attack downwave. that would be looking for lower targets at 5.40/5.30/5.15/5.10/5.00/4.90/4.80/4.70/4.65

The very next bounce from 5.70 to 5.85 could be the trigger, the next straw that breaks the camels back and IF the short attackers make a coordinated effort to slam it this week, it should come from the resistance in this capping zone (5.80-5.85-5.90-5.95-6.00,etc)

The longer we see resistance capping at this 5.85 area the more the odds favor a take down to lower targets.

The big rally looks over,finished. the selling efforts are what has been happening since the last few weeks. the bias in my view, favors resistance and selling down,bleeding down, manipulating price down. and I don't trust the 5.70-5.60-5.50 support to hold. Not when the greater chart pattern, that shows a Grand Bottom at 2.43 and a top at 6.64....the Fibonacci retrace zone is way down at 4.70/4.60/4.50 area. That's a long way down from here. just to find the greater balance point. 5 dollars as a base is a target waiting. 5.30 first, then 5.15 then 5 dollars. IF AVXL was still in a rally mode, that had some momentum going, then I would be looking for this 5.50 area to hold like it has so far, I would be looking to see a rally climb without too much trouble to 6 dollars and climb to 6.25 area before it gets tired...but that's not what we see happening right now. we're seeing a weak bounce that's getting capped at the first resistance zone, 5.85 area. that's not a strong bounce. the rally momentum has dried up. That means the resistance is stronger and the selling should generate a retest of the 5.50 zone...its a battle here now at 5.70/5.80. The more price wallows around 5.75 and showing no bounce, the more the resistance at 6 dollars looks like a sell zone to trim trading shares. not a lot of shares, just a few hundred. so I can buy at 5.30/5.10 and 5 dollars when/if the time comes.




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