but the more important point is....
the point of the geometric chart ,showing the Fibonacci tracks,isnt so important whether the wave structure goes up first ,then down and up, or down first ,then up and down...the zigs can zag in different directions but eventually arrive at the target, its arriving at the target zone that matters, and in the current pattern, the chart is showing the Resistance topping zone target at 5.77 (5.75-5.80) and the downwave target zone at 5.10-4.95
In between is a middle zone/pivot reversal zone at (5.40-5.55)
The 50 ma is around 5.70-5.67, as a strong magnetic target where AVXL surging now to hit that target could get Hammered down from there . Strong rally bounces would be looking higher than the 5.70 resistance, more like targets at 5.90-6.00.
A bearish bounce would hit the 50ma, and get hammered down and then bleed down some more. .... like it has done the last 2 times.
It looks to me like the last few weeks of this downwave pattern is still crafting a bottom.,not showing clear signs that it is finished yet. Resistance now at 5.45-5.55, support at 5.25-5.13, and Monday will start with AVXL on a launch pad/triangle terminal/coiled and ready to make a move. I think it will become a 30 cent move to the targets up to test 5.65 or down to test 5.10
