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Noted, but real investors also get in at the bottom.and buy at bottoms, and even sell some at the tops.
Today we get a bounce...
From the 4.20 step, to 4.50
Let's see if it rolls over and tumbles down some more. Resistance steps right here at 4.50/4.60/4.70/4.80/4.90 ....all resistance area, basic support/resistance game. Why would the trading systems make a finished cycle bottom reversal at 4.18, instead of bleeding it down in the next roll over and tumble to target 4 dollars. ? I don't think it would choose 2 steps above 4 dollars to make a major bottom. How many days and weeks time do the trading systems and short traders have to play the game and take it as low as they can? Bleed it down 30 cents, 40 cents, 70 cents at a time.... 60 cents down, 30 cents up, roll over and 50 cents down, 30 cents up and roll over and tumble 50 more down. Step by step, until they reach the Finished Cycle Bottom. It wasn't 5 dollars. I don't think it's 4 dollars. Maybe 3.50 ish? 3.25 ... ish ? Too early to say 3 dollars. 4 dollars is a buy target. Like 5 dollars was. The truck starts to load up at 3.50 and below.
Another day of price bleeding down.
It's heading to a target. At some point, the market makers and the trading computers will determine a finished Cycle Bottom, and that would be the bullseye bargain bottom to buy. The one just above it would be ok too, as a step too soon. How many weeks and months remain for this bleeding down game to continue unabated ? ... until we get Good news.
Price seems to be slowing in movement tight now, bleeding lower still, but looking like a train slowing into a station. Here at 4.25 /4.30 area. A good place to create a Shoulder, for the next drop to 4 dollars, as the head, .... and a starting point for a bounce... IF that's what the wall st.. trading system intends to do.
My post was better than yours...
You got 3 poops and 2 clowns. I got 5 poops and 4 clowns. I win. 💩🤡. 😸
The price is bleeding down, bouncing to load up, roll over and bleed down lower. We've seen this trading game for years. Technically on the chart... the latest longer term chart, (1 -3 years) established a double Bottom zone held at 4.80... but now, once that support broke down, it's a new picture, and looking to reset a new bottom zone for the big picture. The question is, how fast and furious, or how slowly over weeks and months, will it go to reach its next major pivot bottom. A few years ago the bottom zone was around 2.00/2.25/2.50. I can only see a few target steps ahead of time as they come.
The next targets look like 4.00 and 3.80 to me. 3.50 is starting to appear thru the mist.
Today plunged to 4.34, bounces a little... it's a classic looking bleeding down game, rolling over at the resistance bounce and bleeding down lower. That's how shorts and sellers are passing the time while we wait for Good news.
Thanks... I always appreciate your thoughts.
Well, it seems like we can see this bleeding down game ok... so where are the next targets, seems 4 dollars and 3.80 are likely. And after that, how low can it be taken. Step by step is the game. The 4.50 "low" gave a weak bounce to 5.20 and then got easily dissolved back to 4.50 again.
Without news, only contrived manipulation game can create a rally... I doubt more than 1 dollar... to target 5.50? Last bounce was 70 cents, to 5.20.
Without good news. The bleeding down can easily test the 4 dollar target.
Yes, it's why you have to call the Intermediate cycle chart pattern broken down, bearish, and searching for a new cyclic Bottom zone. A process that may take weeks and months to complete, and there is a lot of time in 2024 now. Step by step, with a probable long time frame, maybe entire year, bleeding down, bouncing back to resistance, and bleeding lower, to eventually reach a Finished bottom. A few years ago, that bottom zone was 2.20 area. What will it be now?
The 5.00/4.80 ( previous cycle Low) target zone... failed to hold now. 4.50, this new lower low, is a step along the way to 4.00/3.80. In my view. The last bounce from the first 4.50 low failed right at the expected resistance, 5.20/5.00, rolled over and plunged down. Eliminating any bullish momentum, coming from a 4.50 "bottom". ... bias looks bearish. Yes a zig zag range is possible 4.40 to 5.40, but now watch resistance area 4.80- 4.90- 5.00- 5.20... to see if it Fails again. 4.80 WAS a critical support step to hold. Now it becomes a resistance zone. 1 dollar target down is 3.80
Conversely, IF 4.50 holds, and market forces decide to give AVXL a generous fake bounce of 1 dollar , target zone is 5.45 area. My bias is looking at the bigger picture, several months of bleeding down , to achieve lowest Bottom zone again. 4 dollars is the next major target , 4.00/3.80
The critical support at 5.00/4.80 major low Failed.
ONLY GOOD NEWS will stop this bleeding down game.
@Bio... do you have any feeling about...
The idea that the FDA and Big Pharma are corrupt gatekeepers that intend to stifle the small breakthrough technology companies like Anavex, and delay any approval as long as they can? There is a lot of evidence showing the cozy relationship between Big pharma and the FDA. and we know all the approved alzheimer drugs don't work well. Big pharma has controlled the medical industry for years.
Steve, I think we're seeing the same things, ... what I might be looking for as a fair rally that could be the first step toward a no news bottom at 4.50, we can call it intermediate, like last year's was at 4.80 Area and rallied for a double to 10.40/10.20 ... I'd be thrilled to see that happen again, but without news, my sights are set lower this time, I'll be impressed to see the 7.50 area as the finish . And right now, from a new low at 4.50, I need to see the targets at 5.80 get reached ,to call the entire upwave, Elliott wave 1, in a swing pattern. So far, these bounces from the 4.50 Low are a start, but still in a resistance danger zone around 5 dollars. One more bounce this week to retest 5.30 would help with more room for the pullback, giving it a chance to hold at 4.90/5.00 support. A bullish recovery needs to see these higher highs and higher lows . 5.30 is the next key target for me. Then holding support at 4.90/5.00
The 1 dollar target is 5.50.
In the larger intermediate picture, last year saw a rally from 5 to 10 area, and then 10 collapsed back down to the recent 4.48 Low. I was anticipating a continued downwave to roll over here around 5 dollars and make the 1 dollar tumble to target 4.00 . It's still possible, but a few more bounces like this week has done, could start to change the odds. Odds become neutral at 5.30 , if the pullback then holds at 5.00/4.90 , and IF , IF, IF... these moves happen, and 5.00 rallies to reach 5.80/6.00 , then my bias will change to neutral, with a chance to confirm 4.50 as the intermediate Bottom, in a cycle that could take the whole year to develop, ... finding the cycle Bottom, and climbing to the cycle resistance peak, for 2024, with very little good news, I think the peak won't get much higher than 8 dollars. From a bottom at 4.50 , the double would target 9. I'd be happy to see that for 2024 if it's going to be a dull year without exciting news. If we do see exciting news, then of course it's a completely different picture to consider.
Sorry it takes me so much detail to describe the price action on the chart pattern. Today's direction could be interesting, very key here, a bounce up to 5.30 or tumble down to 4.80 ...
It's a key battle zone right here to watch.
We got the bounce today. To the resistance target zone that I described yesterday. Coming off the 4.50 low yesterday, we get the bounce today.now to watch this zone, 4.80-5.00 to see IF it rolls over and tumbles back down... and to also watch to see IF support will hold ,to create a 'higher low' around 4.65/4.70 area. Or will a pullback get sent right back to the 4.50 low, as a show of selling strength and continued downward pressure. The target for sellers is a 1 dollar trade from 5 to 4. The target for bullish pattern recovery , off 4.50 as a "Bottom" , would be to recover, step by step, all the same steps it came down from... 5.30/ 5.50/ 5.80/ 6.00/ 6.25/ 6.50.... and the unlikely gift (without news momentum) of buyers pushing it to 7 and 8. /// The first major target zone for any recovery upwave, in my view, remains the 5.80-6.00-6.20 area. Until a rally wave reaches that level, all we have are small bounces in a resistance zone that could roll over and cascade down some more, heading toward the 3's. The 4 dollar step is still in play now, IF we see hard capping here at 5.00/4.80. Watch the current pullback .
For those interested in watching the price action...
As we continue seeing the bleeding down game make lower lows, bounce to lower highs, roll over at resistance and tumble downwave again, I'm watching for a small bounce now to hit resistance around 4.80/4.90/5.00 , and let's see how the battle goes there, ... will it hold and create a support step like 4.65 and begin a rally, or will it cascade and bleed down just like the last few days have done. Have to watch these basic moves now. One at a time.
Targets in play looking downward, 4.00-3.80 area. Looking upward, 5.25 to begin any recovery, IF... 4.50 holds now.
Yes, clown, 🤡... look at what I write. I encourage everyone to look at what I write. Then look at what the price action does. And then get back to me. 👍️
Hi John, yes, I remember all that price Rollercoaster back then, as well as your name from way back. Yep, the trading game is tricky. I was fooled enough the other day to buy some at 4.80. It was a technical target. Here we are, now hitting the next step down to start the week. But looking at the downwave, that looks completely mechanical, sliding down from 5.20, what began around 5.45 resistance, we're getting the 1 dollar move downward. I wouldn't be surprised to see another 1 dollar down after a bounce now, from 4.50 to 4.80/4.90/5.00 fails, rolls over and cascades down another dollar. I could be proven wrong of course, but bottom fishing, 4.00-3.80, is in play. In my view. Happy fishing.
It's very possible. I think the basic price target in this current pattern was the 5.00 step and the 4.80 "Bottom ". for a bounce. But we saw a steady tumble to 4.70/4.65... looking like a big overshoot. But now that we have this breach of a key Bottom/4.80, it makes me cautious
to see if selling momentum will be motivated to push harder , and 4 dollars would be the next prize. One main track I'm watching for next would be a small bounce to hit resistance at 5 dollars and get Hammered hard there, and like today , gets decisively sent down on its way to begin ... what could become... the next 1 dollar trade win for shorts.
There are also other track patterns to watch as well. I watch them all.
Always nice to catch a bottom. 👍️
Small bounce is looking at 5.00 for resistance, maybe a struggle above that. If I was to make a gambling guess, the next 1 dollar trade move might be 5.00 down to target 4.00. The current downwave rolled over from 5.45 area, and then 5.25 resistance rolled over, still looking down in my view. Each resistance rolls over and tumbles down. Next place to roll over looks like 5.00 to me.
Big day today for TA chartists,and traders, bottom fishers, frightened longs wondering what's happening, naysayers laughing and ridiculing, the usual bleeding down price destruction game for shorts to enjoy, ... while we wait for Good news in 2024... and how many weeks and months will we have to wait. This week ( and this month of March) was a big win for shorts and bears , to break down the 4.80 triple bottom swing pattern Low. A major development on the long term chart picture. All rally waves that bounced and climbed from 5 to 10 have failed to hold and develop a bullish chart pattern. Now the downwave bearish pattern becomes the dominant picture, in my view, looking at lower Lows, and an emboldened short trader,and short hedge funds. And company dilution games? Maybe? ... all stepping up their game, looking to keep hammering the price down as low as they can take it, until MMs intervene. Maybe it's dilution, computer system trading, whatever it is, the price action creates the chart picture.Now , we get to see how the "lawsuit" might affect the selling strength in coming weeks. I have to believe the sentiment currently is going to remain bearish until good news comes, including a declaration of lawsuit as frivolous, if that happens. Any positive news.
Where will the next major Bottom be established now? 4 dollars seems like an automatic target coming soon. Would it continue tumbling into the 3's ????? It's bottom fishing time in 2024. Isn't this fun?? If I was looking for a good place to "bail" ... I , personally want to wait for a good rally recovery , there will be one some day, maybe to retest 7 or 8 dollars. But no rally will happen without a good news trigger. A double from 4 to 8 would be good enough for me.
Dude... where's my good news... 😐️
Love y'all poops and clowns.👍️ Just watch the price action... exactly as I forecast it. 😀
Lets see now if AVXL holds support at 5 dollars and starts to make the next move upward. Looking eventually at target 5.80/6.00 area as the first major hurdle to recovery , and maybe develop a confirmation for a finished bottom at 4.80
Masks don't work. Folks need to detoxify...
with supplements and antiparasite medicines. Many assorted supplements to detoxify.
I was right there with you. 👍️
I have my bids at 4 and 4.15. But on a hunch from watching today's price action, feels like today's selling wasn't as forceful as I expected. Maybe worth a small gamble to buy just a little at 5 dollars. I put a small bid in at 5.02 for tomorrow.
From the 4.80 current bottom, we get a decent bounce now, to Begin trying to make some rally recovery. Watch the resistance steps here at 5.15/5.20/5.25 to see If the sellers make a strong effort to hammer it down again. Watch to see if support would hold now around 4.95 area.
A more promising rally needs at least 2 or 3 more of these upward moves. To retest 5.80-6.00 target area. If the upwave achieves that, then it starts to redevelop the larger chart patterns. Swing patterns. Maybe establishing a finished bottom at 4.80 , but that would need more time still, to establish first, a shoulder support zone around 5.30 area. Today is the second effort to bounce from the 4.80 base. Needs a lot more climbing to reach the finish target at 5.80/6.00 . But today began the effort.
You say "52 week Low " ...
like that's a bad thing... 😧
🙂 〽️ ↘️
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............. . .......⬇️
I agree there is reason to be hopeful , but the share price has not begun to recover yet. The bottom zone ,currently at 4.80/5.00 area has failed to rally so far, and is retested now. Not yet confirming a continued downwave, but the rally bounce has been erased by resistance wall 5.50-5.20. And now we're seeing lower highs and lower lows, and teetering at the critical support bottom.
This 4.90/5.00 area is a buy target, but If the next bounce gets hammered around 5.15 again, rolls over and tumbles to collapse this 4.80 "bottom" ... it could generate a further downwave to 4 dollars. A breach of this 4.80 bottom would be a big win for bears. They'll push it hard.
It's a very simple chart picture to watch. The battle between resistance and support, watch the pattern developing. Currently the resistance is winning, the small rally bounce got taken right back down. The final major support is critical to hold at 4.80/4.75. Or else the lower target steps are almost guaranteed to be reached. 4.60,50,40, etc, to 4.10, a buy target, and 4 dollars. Happy bottom fishing 🤠
The price hit a resistance ceiling at 5.25, right where it was to be anticipated, and end of day, end of week sold down to finish neutral... but the last punch was won by sellers, not wanting to
hold shares at 5.25 resistance. Resistance zone remains intact 5.20-5.45, support zone held ok at 5.10/5.00. I'd be calling this week Neutral, at best. Still holding a bottom zone , but yet to generate a recovery rally. Spinning wheels at the starting gate. No reason to claim any bullish sentiment currently. Another week passes, developing the "bottom zone" ... which hasn't yet confirmed to be finished at 5 dollars. Rally recovery doesn't even begin to confirm until a climb reaches at least 5.80/6.00 target AND then holds pullback support shoulder at 5.30 target zone. 2 essential steps. THEN after holding 5.30 support shoulder price Must rally again to target 6.30 area, for another 1 dollar upwave move. All this price action has to happen Before the technical chart pattern could be called a recovery, and a " finished bottom" at 5 dollars. But, I understand that you only have one channel, stuck on extreme bullish cheerleading.
For those who want to understand the price action and chart patterns, they can read my analysis, or a few other good chart watchers here, like sab, and leo, a few others, there's still a few here, but not many.
👍️ reason to be hopeful but concerns exist, have to wait and see.
Well said , 👍️ I agree, but I might stretch the trade zone from 6.00 to 4.00. What's that... 20% ? 1 dollar trade moves. But 10% is an OK trade.
Yeah, 8 dollars looks very far away right now.
I agree , John, I've missed a few bottoms at times, by looking for one more low, ... that's the guessing game. But look what's happening now, ... here we are retesting the 4.80 "bottom"... which I didn't buy last year, and now it's giving us another chance. Stock trading, there's another name for this... it's called gambling. I have to admit it. That's why I don't do a lot of trading. Maybe it's a fair gamble to buy a little here at 4.90, but given the way the price action is behaving, and the number of weeks and months we could be waiting for compelling news, I'm gambling that we can see 4.00. I could be wrong.
AVXL appears to be developing it's bottom zone now. It might take a few months to finish.
10% down from here...
Looking at 50 cents to target 4.50. I like that target ok, but my fear is that the 4.80 'bottom' is a big price barrier, they created twice, as if it's supposed to be like some magical safety step. IF it gets broken, could it create a cascade of selling. ? What force would stop 4.50 from falling lower? I've always had a nasty habit of buying the AVXL downwave a few steps too soon.
Are we looking at 4.80 tomorrow?
Is that a bargain to buy? Not for me. I'll wait for lower and lower steps. The drag of downwave 2024 is still early. Waiting for the next good news to come. We've got several months to watch the bleeding down game. Lawsuits or rumors of Lawsuits, or bashing by the bastard AF, whatever negative force acts as the trigger .... In the last few months, the price action has been trying to discover and establish a major cycle Bottom. Like it did a few years ago. The current zone here at 4.80/5.00 is being tested. Below this, like a dam bursting, would find the entire zone 4.00 to 2.00 becomes an active target zone... All over again. It might not reach 2 dollars, or even 3 dollars... but 4 dollars is already a target in play now. In my view.
This critical bottom zone here at 5.00/4.80 is probably going to be severely tested now.
Following up on my post from yesterday...
We see the 5.40 resistance was sent right back down ... and the battle in this critical zone continues. Resistance overhead now is tightened at 5.20/5.30/5.40 , remains a barrier, and support here from 5.10/5.00/4.90 remains critical to hold. Was there bad news triggering the selling today? Lawsuit? Is it real, is it serious? Now would not be a good time for bad news. Let's hear what the fundy experts have to say now.
The next 1 dollar prize in play for traders here, is either a rally to 5.80/6.00/6.25... or... a collapse to 4.40/4.25/4.00 . Does the wind feel bullish or bearish these days. Where's your stink bid ? 😧
I agree with what you said...
AVXL needs good news to stop the bleeding down trading game. Maybe the MMs have the ability to manage the price range,wherever they want it, but the shorts are empowered during this period. We are watching the price action now in a key battle zone between 5.00 support and 5.40 resistance. Watch price action closely here. Shorts have to attack this 5.40 resistance resistance or they risk losing this downwave momentum. A continued rally bounce like today, climbing higher to 5.80 and 6.00 would become a decent first rally wave from the 4.80 bottom. Giving longs a chance to establish the bottom at 5 dollars. 5.40 is still a key resistance for shorts to defend. Let's see if they try tomorrow.
I think I understand most of what you're saying. I am concerned about the destruction of the share price in the next half year. It's a big part of the guesswork. Last year we saw the double from 5 to 10. I think this year it could be from 4 to 8. Eight dollars is a major balance point on the price pattern . The complete major Bottom zone for AVXL is 2 to 4 dollars. I wouldn't imagine it could get taken below 2 dollars like it did a few years ago. The science has made forward progress. The time process is delayed now and this year could be a real drag, watching and expecting the price retesting that major bottom zone. Nobody but short traders will be happy... Until good news stops the bleeding. .
Thanks for your response.I will look forward to your next analysis. 👍️
Am I seeing this correct...
This forum, has 35 posts, for the whole trading day, and about a dozen of the same people doing the posting. This Devolution of the forum here is shocking to see what's become of it. We used to have 7 or 8 good TA chart analysts, and as many fundamental science and investment experts. Now looks like almost all have vanished.
Where did they all go. I went and looked at AVXL forum on Stocktwits and it's just as lame as here.
... a little more follow up....
The overhead resistance is a zone from 5.10 to 5.50. Price could bounce from the current lows to retest any of the resistance steps in that zone. The first overhead step is around 5.10, but the trading game and the price battle could get a little tricky here for a few days..by climbing through the first resistance, and then get hammered at 5.25 or 5.35, and then roll over and tumble down again. It's a trading track pattern to targets. Running on various time frames, the swing waves are the ones making 1 and 2 dollar moves. The resistance peaks at 5.90/5.80 have reached their dollar target. The older peak at 6.80 made it's 2 dollar trade target. The bounce from the double, now triple bottom has barely got off the ground yet. Thus suggests a bearish bias. So are institutions buying strong here at 5 dollars or not? What are the odds we see a continued rolling over after a small bounce, and tumbling down another dollar through March. Target zone 4.40-4.00. At the moment, I'm thinking about 70% chance. The only thing that'll change this forecast is if we see very soon, good news propels a strong rally to target 5.80-6.00 area. That would create a pattern reevaluation.
What are the odds the 4.80/4.90 Low will hold strong.... 40 %. Why should the selling stop here when there's nothing to stop it. How strong is the buying at 5 dollars now? The target for a potential bullish recovery rally is 5.85/6.00 to begin.
Watching the price action...
The other day after a retest of the 4.90 bottom zone price made a small bounce that rolled over at 5.15. And bleeds back down. The pattern of lower highs and lower lows remains ongoing. Bounces of this bottom zone have yet to develop any traction. The bias is still looking downward, in my view. Are institutions eager to buy here at 5 dollars these days?
Trading targets , overhead, resistance at the 5.10- 5.20 area now. The 1 dollar target down is waiting at 4.50/4.40/4.30/4.20/ 4.10 to 4 dollars. Bleeding down each step along the way. Small bounces that roll over and tumble down lower. The selling game will stop when there's good news.
Are smart people migrating over to stocktwits?
I would agree. And no reason to buy more here at 5 if there's a good chance to buy at 4. 2024 could be a long year, plenty of time for price to keep tumbling and bleeding down to retest lower bottom zones.
@nidan... a good jump to start the day, climbed back to retest 5.40 but immediately sold down, and back down to test 5.20 support. Finishing the week, resting in neutral. Not much else to say, for the week. Weeks go by this way, sliding along. Waiting for news. February ended with a yearly Low at 4.80, and a small bounce to try and recover... ongoing ... needs to climb some more if we are to see the downwave pattern stop bleeding and turn around. First major recovery target in my view is 5.80 area. Not there yet. Critical support at 5.00 area must hold to keep the recovery momentum. The pattern will need to develop with higher highs and higher lows. Basic patterns to watch. 1 dollar trade wave targets at a time. Upward is looking at the 5.80 .... Downward is looking at 4.40. In the middle is the critical battle zone 5.10 to 5.30, where price sits now, ... waiting. 🤔 🫣
Sellers responded today after the opening Pop and Drop move, and price came tumbling back down. Typical downwave pattern. Now support zone getting tested ( 5.15-5.00) below that is critical support at 4.95/4.85 .
BUT, we got a first rally wave, 4.80 to 5.50/5.40.
So now, this pullback testing critical support becomes a critical battle now. If we would see any continued climb to higher targets ( 5.80-6.60), the 5.10-5.00 area has to hold and generate a
1 dollar climb. Sellers could win this battle and The downwave could be 1 dollar from 5.40 to 4.40. This is the Rollercoaster trading game . I place odds for this current battle neutral at this moment, because it needs the opening move tomorrow to tell... 5.05 needs to hold. 5.00 needs to hold. And a rally bounce to retest 5.50 and end the week at the top... would be a small bullish win. The sellers would win if price gets taken below 5.00 and the day and week ends at the 4.88 bottom zone all over again.
The current battle now, between overhead resistance and support below could set the tone for where price is going in the next 3 months. It's crunch time for longs to see the 4.90 double bottom hold ok, and for an upwave pattern to climb back up the steps it came down.... 5.80, 6.80, 7.60, .... shy of 8 dollars? I'll take 7.50, for now. Maybe we can say 2024 will separate the believers from the doubters.