Monday, June 19, 2017 2:49:50 PM
AVXL today starts the week flat,....
with the usual whipsaw zig zags at the open, makes a small retrace to 5.27 and small step up to begin the resistance zone at 5.45...and stays flat thru the day so far.
As long as this 5.25 pullback zone continues to hold,it has a chance to start climbing the resistance steps until it gets tired and then it gets Hammered by the next short attack. The capping resistance today at 5.45 is a target on the technical chart and begins the Resistance zone. It would be ,in my view, a warning sign if the 5.20-5.30 support zone Fails to hold now. It would mean that this resistance at 5.45 is stronger, the selling force is stronger than the buying, and to see something like that happen right away at the beginning (5.45) of the Big resistance zone (5.45-6.05) shows weakness, in my view. and a retest of the 5 dollar target zone would have to be anticipated.
AVXL,has a big hill to climb back to reach 6 dollars. In the rallies of the past few months, we saw Big green candles surge up from here to 5.80/5.90/6.00 in the pre-conference rallys. In a few of them, there were days that paused sideways ,and then surged the next day, so we might have that happen here, pausing today. its ok as long as it holds the 5.20-5.30 support. Otherwise we're looking at a faster test,this week, of the target at 5.10,with lower targets at 5.00/4.90 and then 4.90 has to hold as critical support. But right now, at this 5.35 area,the station here around 5.30/5.20 is a critical support zone as well. Technical math,volume, wave patterns, etc...should make a bullish show of strength here right now, today and this week, to shape the rally bounce here at 5.25,or else if this fails here, the bearish momentum will become stronger if it falls below the 5.20
with the usual whipsaw zig zags at the open, makes a small retrace to 5.27 and small step up to begin the resistance zone at 5.45...and stays flat thru the day so far.
As long as this 5.25 pullback zone continues to hold,it has a chance to start climbing the resistance steps until it gets tired and then it gets Hammered by the next short attack. The capping resistance today at 5.45 is a target on the technical chart and begins the Resistance zone. It would be ,in my view, a warning sign if the 5.20-5.30 support zone Fails to hold now. It would mean that this resistance at 5.45 is stronger, the selling force is stronger than the buying, and to see something like that happen right away at the beginning (5.45) of the Big resistance zone (5.45-6.05) shows weakness, in my view. and a retest of the 5 dollar target zone would have to be anticipated.
AVXL,has a big hill to climb back to reach 6 dollars. In the rallies of the past few months, we saw Big green candles surge up from here to 5.80/5.90/6.00 in the pre-conference rallys. In a few of them, there were days that paused sideways ,and then surged the next day, so we might have that happen here, pausing today. its ok as long as it holds the 5.20-5.30 support. Otherwise we're looking at a faster test,this week, of the target at 5.10,with lower targets at 5.00/4.90 and then 4.90 has to hold as critical support. But right now, at this 5.35 area,the station here around 5.30/5.20 is a critical support zone as well. Technical math,volume, wave patterns, etc...should make a bullish show of strength here right now, today and this week, to shape the rally bounce here at 5.25,or else if this fails here, the bearish momentum will become stronger if it falls below the 5.20
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
