Thursday, October 12, 2017 6:13:59 PM
It was a target until today.
Funny you asked. I was just studying the chart all night, finally seeing that if this downward pressure breaks below 4 dollars now, then that 3.60 target does come into play on the radar. That was going to be my forecast ....until today happened. Today has the potential to be pattern changing. But its now a work in progress, the blast up today, followed immediately by a retrace to hold at 4.22...the 50ma at 4.25 area is the key line of support now. I analyzed todays movement in the AVXL forum, if you want to read it .
What I'm watching more closely now is to see any continued follow thru climbing tomorrow and next week, that targets the 200ma area (4.80-5.05) Today stopped at 4.75. Its a target zone for resistance overhead, the whole area from 4.40 to 5 dollars is all resistance. today stopped at 4.75. The central zone is 4.50 for the moment, in my view. to overcome 4.50. all the small steps along the way that would try to climb up to target 5 dollars, any one of them could get hit back down. the key 50ma at 4.25 should remain the critical support line now. Price needs to stay above 4.20 now. Any more falling.bleeding down below 4.20 would tell me the bleeding game hasn't changed with today's blast.
But Holding at the 50ma and following thru tomorrow and next week, to reach targets around 5 dollars would be the next bounce to watch for. the battle will be important to watch what happens at the 200ma (5.05) .as I described in the analysis today.
It might likely take a few days of watching any struggle around and below the 200ma, and to see the strength of the resistance there, to get a clue whether the stifling bleeding down game would still be the dominant,ongoing game ...but IF we see a stronger rally force break through the 200ma and target the area (5.30-5.50-5.75) then I would start to call that a pattern changing rally. and such a rally would become confirmed IF its pullback Holds at the 200ma around 5 dollars, and makes 5 dollars become the new base of support, for higher waves to the targets at 6/7 and 8 dollars..
Funny you asked. I was just studying the chart all night, finally seeing that if this downward pressure breaks below 4 dollars now, then that 3.60 target does come into play on the radar. That was going to be my forecast ....until today happened. Today has the potential to be pattern changing. But its now a work in progress, the blast up today, followed immediately by a retrace to hold at 4.22...the 50ma at 4.25 area is the key line of support now. I analyzed todays movement in the AVXL forum, if you want to read it .
What I'm watching more closely now is to see any continued follow thru climbing tomorrow and next week, that targets the 200ma area (4.80-5.05) Today stopped at 4.75. Its a target zone for resistance overhead, the whole area from 4.40 to 5 dollars is all resistance. today stopped at 4.75. The central zone is 4.50 for the moment, in my view. to overcome 4.50. all the small steps along the way that would try to climb up to target 5 dollars, any one of them could get hit back down. the key 50ma at 4.25 should remain the critical support line now. Price needs to stay above 4.20 now. Any more falling.bleeding down below 4.20 would tell me the bleeding game hasn't changed with today's blast.
But Holding at the 50ma and following thru tomorrow and next week, to reach targets around 5 dollars would be the next bounce to watch for. the battle will be important to watch what happens at the 200ma (5.05) .as I described in the analysis today.
It might likely take a few days of watching any struggle around and below the 200ma, and to see the strength of the resistance there, to get a clue whether the stifling bleeding down game would still be the dominant,ongoing game ...but IF we see a stronger rally force break through the 200ma and target the area (5.30-5.50-5.75) then I would start to call that a pattern changing rally. and such a rally would become confirmed IF its pullback Holds at the 200ma around 5 dollars, and makes 5 dollars become the new base of support, for higher waves to the targets at 6/7 and 8 dollars..
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