Wednesday, May 24, 2017 12:35:18 AM
the AVXL Holding box continues in idle.
a step or two up followed by a step or two down ,keeps AVXL controlled in this zone, centered around (5.77-5.87) (5.80/5.85) , and contains all the resistance shoulder steps overhead (5.95/6.10/6.15/6.30)
and the support steps below (5.75/5.70/5.65/5.60/5.55)
and these targets are also waiting,in this box, ,so in the larger picture, this small critical holding zone is waiting for the next news cycle to jump start the next rally. It finds the most balanced seat to pause at ,here in the 5.80 area.
Here,in this controlled box, its a bettar bargain to buy shares at 5.60 than it is at 5.90 and a little more pocket change to trim shares at 6.17 than at 5.87, but the main play in this pattern is to be buying shares at the best bargains, its been that purpose since the 2.43 Bottom,
Buying at all the pivot lows since then, an investor and trader would do well to have started back then, when it was below 3 dollars, but certainly the pullbacks to buy ,at 3.30,then 3.50.and then the 3.88 area,and 4 dollars, were all good places to buy AVXL. Now, in the current pattern, if there comes great news that catapults AVXL into a new cycle, where 6 dollars becomes the new Bottom, and profit targets start getting hit at 7,8, and 9 dollars...then we can call 6 dollars a new cycle bargain. but here at the 5.60 support zone, its hard for me to say this is a good bargain right now. the target at 5 dollars would be decent. maybe one more plunge to target 5.35 would be ok. but here at this 5.60 "base" that has held ok so far....Its the kind of support zone I don't really trust completely. As long as there is controlled Capping and resistance overhead, below 6 dollars and the other shoulders at 6.10/6.15, as long as the controlled Capping gets hammered down,like it consistently has, it just looks like there could be one more wall street deception game, one more AF tweet short attack, something that takes price plunging down to test the 5.30 target.
That might be a good knife to catch if it happens. and below that 5.20 and 5.15 are target points, and then the 5 dollar Bottom zone. This bottom zone is still in play on the technical chart. as long as price is below 6 dollars and the efforts to sell the bounces continue like they have... I'm cautious about this 5.60 support level.
The climbing up higher steps and holding the higher lows, that's all ok when it happens, but at some point in the overhead resistance zone, the MM's have said,"Cap it"...it happened at 6.17/6.10/6.00/and now at 5.95, and thus we see the pattern crafting into a pointed triangle terminal , right here around the 5.75-5.85 balance line. like the 50 yard line on the field. all the rally bouncing efforts were met by equal force selling bleeding efforts. Theres not a lot else to say here, when watching a tight range box, where the controlled capping manipulation is visible to watch ,thru the days, continues to make me say that price will go where the Powers want it to go. They pushed it up to test resistance at 6.15 step and allow no higher. they took it down , plunged it down, to test 5.60 support base, and so far.... no lower.
and here's what all this looks like on a Fibonacci geometric chart .
(click the chart to see the details)
a step or two up followed by a step or two down ,keeps AVXL controlled in this zone, centered around (5.77-5.87) (5.80/5.85) , and contains all the resistance shoulder steps overhead (5.95/6.10/6.15/6.30)
and the support steps below (5.75/5.70/5.65/5.60/5.55)
and these targets are also waiting,in this box, ,so in the larger picture, this small critical holding zone is waiting for the next news cycle to jump start the next rally. It finds the most balanced seat to pause at ,here in the 5.80 area.
Here,in this controlled box, its a bettar bargain to buy shares at 5.60 than it is at 5.90 and a little more pocket change to trim shares at 6.17 than at 5.87, but the main play in this pattern is to be buying shares at the best bargains, its been that purpose since the 2.43 Bottom,
Buying at all the pivot lows since then, an investor and trader would do well to have started back then, when it was below 3 dollars, but certainly the pullbacks to buy ,at 3.30,then 3.50.and then the 3.88 area,and 4 dollars, were all good places to buy AVXL. Now, in the current pattern, if there comes great news that catapults AVXL into a new cycle, where 6 dollars becomes the new Bottom, and profit targets start getting hit at 7,8, and 9 dollars...then we can call 6 dollars a new cycle bargain. but here at the 5.60 support zone, its hard for me to say this is a good bargain right now. the target at 5 dollars would be decent. maybe one more plunge to target 5.35 would be ok. but here at this 5.60 "base" that has held ok so far....Its the kind of support zone I don't really trust completely. As long as there is controlled Capping and resistance overhead, below 6 dollars and the other shoulders at 6.10/6.15, as long as the controlled Capping gets hammered down,like it consistently has, it just looks like there could be one more wall street deception game, one more AF tweet short attack, something that takes price plunging down to test the 5.30 target.
That might be a good knife to catch if it happens. and below that 5.20 and 5.15 are target points, and then the 5 dollar Bottom zone. This bottom zone is still in play on the technical chart. as long as price is below 6 dollars and the efforts to sell the bounces continue like they have... I'm cautious about this 5.60 support level.
The climbing up higher steps and holding the higher lows, that's all ok when it happens, but at some point in the overhead resistance zone, the MM's have said,"Cap it"...it happened at 6.17/6.10/6.00/and now at 5.95, and thus we see the pattern crafting into a pointed triangle terminal , right here around the 5.75-5.85 balance line. like the 50 yard line on the field. all the rally bouncing efforts were met by equal force selling bleeding efforts. Theres not a lot else to say here, when watching a tight range box, where the controlled capping manipulation is visible to watch ,thru the days, continues to make me say that price will go where the Powers want it to go. They pushed it up to test resistance at 6.15 step and allow no higher. they took it down , plunged it down, to test 5.60 support base, and so far.... no lower.
and here's what all this looks like on a Fibonacci geometric chart .
(click the chart to see the details)
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