Sunday, October 08, 2017 7:54:16 PM
AVXL Fibonacci target plots....
a complete plotting... in both directions. looks like the current playing field is 5.06 to 3.86. The target zone (4.65-4.85-5.05) is a "wave 3" zone, the finished 5 wave Rally target zone looks like 5.25/5.40/5.55 area.
Major resistance for the "wave 3" target zone looks like 4.70-4.87 area
a more bearish capping resistance is from 4.30-4.65.and represents a bearish/neutral retrace that is not achieving a rally momentum upwave.
Any struggling in this zone from 4.25 to 4.65 is not a good rally wave pattern. it represents a controlled ,bearish, capping zone at a key resistance shoulder zone,(4.40-4.70 area.) (4.30-4.80 area)
There is a distinction to make, between a bullish "Wave 3" and a bearish "Wave C". Both have the same target area to watch for .In this case with AVXL, that target zone is 4.65-4.75-4.85-4.95-5.05) The higher portion of that target zone would suggest a wave 3 versus a wave C. the Wave C has a tendency to cap closer to the resistance targets lower, like 4.65/4.75/4.80 area, as a finished bounce, the Wave C area. But the whole zone is a target area for the next rally bounce. The distinction becomes more clear when you watch the pullback From There, the 4.75 area, or wherever the bounce stops, How Far back down does it fall, as a Wave 4, it should be more shallow, like a retrace from 4.80 to 4.50 area but Not down to 4.25. it should hold at 4.45/4.40 and ten rally strong again to target thru the 5 dollar zone, at least hit 5.20 area, with higher targets in sight. like 5.40 /5.55 area. That would represent the completion of a 5-wave rally pattern. Its the Shallow pullback that holds around 4.45 area that offers the best clue, for a rally to the true target zone 5.40/5.55 area. (even targets at 5.75 rea and maybe higher. A News rally has targets at 6.00/6.80/ up towards 8 dollars, but that's not the technical picture happening at this moment. without news, the technical pattern looks like what I'm describing. smaller target zones. the current one is looking at the mid-5's.
BUT a Wave C completion is a bearish pattern A capping zone at the "Wave 3" area would become not a wave 3, but a finished Wave C, a bearish pattern., generating momentum to begin another downwave to retest the lower targets from 4.25 to 3.80 all over again. In this pattern, the 50ma at 4.25 continues to set a critical support line, or else it would act as a resistance capping line. The shoulder zone overhead(4.30-4.60) already acting as a resistance wall, needs to be overcome, or else it continues to represent the Wave C capping zone, that could send price down again to retest 4 dollars,or the 4.25 support line. The target zone for the "wave 3" is this same ( 4.70-4.80-4.90-5.05 area) but the difference to distinguish between a Capped, bearish 'Wave C' finish at this 4.75 zone, and a bullish 'Wave 3 of 5') rally going higher to the 5.40 finish rally target zone...is whether the retrace from 4.80 area will hold a shallow (Wave 4) sideways pause,at a support area around 4.55-4.40 area) and rally from there to the 5.40 target zone, versus a stronger pullback, that fails to hold 4.50 and falls to 4.25 , then fails at 4.45 and falls to 4.15 , etc...and continues to retest the 4 dollar zone, like its doing now.
a complete plotting... in both directions. looks like the current playing field is 5.06 to 3.86. The target zone (4.65-4.85-5.05) is a "wave 3" zone, the finished 5 wave Rally target zone looks like 5.25/5.40/5.55 area.
Major resistance for the "wave 3" target zone looks like 4.70-4.87 area
a more bearish capping resistance is from 4.30-4.65.and represents a bearish/neutral retrace that is not achieving a rally momentum upwave.
Any struggling in this zone from 4.25 to 4.65 is not a good rally wave pattern. it represents a controlled ,bearish, capping zone at a key resistance shoulder zone,(4.40-4.70 area.) (4.30-4.80 area)
There is a distinction to make, between a bullish "Wave 3" and a bearish "Wave C". Both have the same target area to watch for .In this case with AVXL, that target zone is 4.65-4.75-4.85-4.95-5.05) The higher portion of that target zone would suggest a wave 3 versus a wave C. the Wave C has a tendency to cap closer to the resistance targets lower, like 4.65/4.75/4.80 area, as a finished bounce, the Wave C area. But the whole zone is a target area for the next rally bounce. The distinction becomes more clear when you watch the pullback From There, the 4.75 area, or wherever the bounce stops, How Far back down does it fall, as a Wave 4, it should be more shallow, like a retrace from 4.80 to 4.50 area but Not down to 4.25. it should hold at 4.45/4.40 and ten rally strong again to target thru the 5 dollar zone, at least hit 5.20 area, with higher targets in sight. like 5.40 /5.55 area. That would represent the completion of a 5-wave rally pattern. Its the Shallow pullback that holds around 4.45 area that offers the best clue, for a rally to the true target zone 5.40/5.55 area. (even targets at 5.75 rea and maybe higher. A News rally has targets at 6.00/6.80/ up towards 8 dollars, but that's not the technical picture happening at this moment. without news, the technical pattern looks like what I'm describing. smaller target zones. the current one is looking at the mid-5's.
BUT a Wave C completion is a bearish pattern A capping zone at the "Wave 3" area would become not a wave 3, but a finished Wave C, a bearish pattern., generating momentum to begin another downwave to retest the lower targets from 4.25 to 3.80 all over again. In this pattern, the 50ma at 4.25 continues to set a critical support line, or else it would act as a resistance capping line. The shoulder zone overhead(4.30-4.60) already acting as a resistance wall, needs to be overcome, or else it continues to represent the Wave C capping zone, that could send price down again to retest 4 dollars,or the 4.25 support line. The target zone for the "wave 3" is this same ( 4.70-4.80-4.90-5.05 area) but the difference to distinguish between a Capped, bearish 'Wave C' finish at this 4.75 zone, and a bullish 'Wave 3 of 5') rally going higher to the 5.40 finish rally target zone...is whether the retrace from 4.80 area will hold a shallow (Wave 4) sideways pause,at a support area around 4.55-4.40 area) and rally from there to the 5.40 target zone, versus a stronger pullback, that fails to hold 4.50 and falls to 4.25 , then fails at 4.45 and falls to 4.15 , etc...and continues to retest the 4 dollar zone, like its doing now.
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.
