Thursday, October 12, 2017 6:40:04 PM
Another look at AVXL.
The higher targets in the bullish rally....but its not yet a bullish rally until it strongly breaks through the 200ma.The area Below the 200ma at 5 dollars represents the "bleeding down zone" and even with today's blast that stopped at 4.75, shows that zone (4.50-5.00) is a resistance zone,that can hammer price down again. Today's retrace held at the critical 50ma (4.22)
The 50ma remains critical support. Bleeding down below it would be a bearish sign all over again,for this move being more of a false rally. a fast and strong bounce coming from good news conference...that gets taken down again with the bleeding game....its too soon to know if that's what will happen next. A follow thru surge that ends the week closer to 5 dollars would be more bullish,and give the rally a chance to develop into a real break through,which has to power thru the 200ma and reach the higher targets. so now, the chart becomes more clearly demarcated, with the 50ma as critical support to watch, and the 200ma as critical resistance to watch.
The higher targets in the bullish rally....but its not yet a bullish rally until it strongly breaks through the 200ma.The area Below the 200ma at 5 dollars represents the "bleeding down zone" and even with today's blast that stopped at 4.75, shows that zone (4.50-5.00) is a resistance zone,that can hammer price down again. Today's retrace held at the critical 50ma (4.22)
The 50ma remains critical support. Bleeding down below it would be a bearish sign all over again,for this move being more of a false rally. a fast and strong bounce coming from good news conference...that gets taken down again with the bleeding game....its too soon to know if that's what will happen next. A follow thru surge that ends the week closer to 5 dollars would be more bullish,and give the rally a chance to develop into a real break through,which has to power thru the 200ma and reach the higher targets. so now, the chart becomes more clearly demarcated, with the 50ma as critical support to watch, and the 200ma as critical resistance to watch.
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