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1 dollar down in a whipsaw from the open pop and drop.. last Friday hit the 10 dollar step and bounced to 10.80. And today showed that the downward wasn't finished... hitting the 9.80 target. Isn't this a fun game to watch and play ?? It does help to see where the targets are. But days like today show how tricky the manipulated computer trading system works . These last two trade waves..... up 85 cents and then down a dollar. Next target area down looks to me like the 9.30 area.
another zinc ionophore and considered even stronger is EGCg , from green tea extract.
Just watching the support and resistance , AVXL continued to go down the steps ,lower highs and lower lows. 10.50 10.30. Will it bounce at 10.00 ? Or fall into the 9's. ??
In other news....massive jump in Silver today. Gold did well too.
I noticed the options chain has these 50 cent targets. And the 10.50 got hit today .the rest of the week has a chance to bounce from this support as a double bottom, we can see what strength or weakness it has now .
Looking at this weeks price action so far
The fair bounce from 10.50 to 12 dollars, was a tradable bounce. but for it to develop a bullish bias ,in my view, as an upwave pattern, needed to hold the pullback and show strength at the support steps around 11.00/11.25/11.40 area, in my view. and to see the 11 break down and test 10.80, is neutral at best, and really looks like a range developing from 10.50 to 12 and back down again. Today bounced again at 10.80, up 50 cents to find resistance at 11.30, and this 11.30 that was the support zone I wanted to see hold coming down from the 12 top.... now this 11.20-11.30 area becomes resistance, you see how this has a magnetic energy ...but its resistance now, and the bias, to my view, is still trying to go down. why wouldnt it try to retest 10.50 again. These are small differences in price 30 cents here or there is small, but what it shows is the price energy bias, bullish pattern needs to bounce up at support and make more rally waves. Bearish bias caps the rally at 12,as we saw, and then breaks down below the bullish support zone at 11.25 and sends it right down to 11 and now 10.80 with no support where the support should be at 11.25 area. and this is showing the bearish bias is strong enough to render the rally neutral at best. and coming off a rally wave (10.50 to 12 dollars) tells me that the rally is proving a bit weak now, the pullback is jusr as strong.
If there is any pattern developing here, at the moment it is looking like a possible Range pattern, from 10.50 to 12 and back down again. Range patterns are tradable. It was a fair gamble that worked last time. Where would the trader's entry point be.. 10.50 again?
The greater swing pattern zone is still 13 to 7 and back to 13.
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and looking now at the bigger swing picture... maybe its ok to see anything holding at 10.50 is ok, and could bounce back into another rally. But as far as small intraday wave patterns, the latest rally that went from 10.50 to 12 , has broken down, as it goes back to 10.50. The bias is neutral at best right now, in my view. The larger swing pattern that peaked at 13, then peaked at 12. The bottom zone bottomed at 7 and then bottomed at 10.50...so the picture could be developing a large triangle point ,which might be around 11.00-11.50 area. and we could see that point get resolved in either direction for a 2 dollar move. 11.50 to 9.50 or 11.50 to 13.50
I always hold on to my core/
I watch the price action to get clues for when to buy or sell trading shares.
So far, today is a continuation of the developing pattern, sideways in the pullback support zone I described last week. Zone 11.50 to 11 dollar area, as a support zone watch to hold. Resistance overhead around 11.50 to be watched now as well as 12 again. And looking in downward pattern if it goes that way, a retest of 10.50 and maybe 10.
The big plunge from 13 to 10 bounced back to 12 so far, and now is testing the 11 support. It's just watching the battle now between support and resistance. For the next 2 dollar move. Up, 11 to 13, or 11.70 down to 9.70
This week was a decent bounce
what I like about it, was the fact that the price action regained a visible ,measurable track pattern, in a decent bounce,looking determined to move up, and the next day it made follow through to the 12 target zone. It showed enough bullish strength to get that high. 12 was the target to watch. and now,as I described early, the pullback zone for support to watch would be the 11.50-11.00 area,11.25 in the middle. and this is where we are watching the week end and set up for the battle here next week. Lower targets in the downwave start at a retest of 10.50. 10 dollars is a target and onward to retest the 9 area is possible. But the bullish momentum, if there continues to develop, "should" hold here around 11.00-11.40 and continue upward to try for 13/13.20/13.40/13.60 etc... a truly bullish momentum would make another good bounce next week, just like this week, and target 13 and onward to try for 14.
A bearish bias would keep avxl stuck around 11 and maybe 10 and looking at retesting 9.50. Have a good weekend. dont forget the stock market is poised to crash in this summer cycle.
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(remember froole's daily wisdom...this is nonsense)
That sounds like a decent trade. for this week.
I just finished looking at the chart. It was a decent bounce from the horrible one day collapse. it returned half way,which is a bounce target to watch for. and this week saw the resistance capping at 12 dollars. and to be finishing the week today ,you could see the morning plunge down,expiration day today ? so I might even have closed the trade at yesterday's top. It was a small gamble to buy the trade at 10.50 but those who did, had this trade, for a target at 12 dollars and to profit 1.50, at 12 dollars, not a bad trade. whats that about 14% ? So, a wager of 5200 dollars to buy 500 shares makes about 700 dollars. and take the money and close. If I could guarantee good odds to make those 3 day trades,its not too bad. This bounce was a good move this week. My hesitation was in the beginning when it bottomed at 10.50...I didnt trust it to hold. Thats why these trades, always start with a Gamble. and this time, it paid off.
As the dust settles,I can see some things again.
As the chart starts developing a new track, bouncing up, and reaching targets, today it made enough follow through to touch 12 dollars and then was taken down 90 cents without any trouble. I was looking for the 1 dollar movements and thats what we have been getting. .At the moment the upward recovery has made a fair effort, and now price sits in a decision zone, it has to go somewhere. The target down looks like a retest of the 10.50 Pivot low ,which would be another 1 dollar move. If it happens. The 1 dollar upward move from the latest pivot around 11.25 support would test 12.25 area. It feels to me now, that tomorrow might be a good tell, a barometer to see which energy has the momentum, bear or bull, and if it doesnt wallow sideways and waste a day, the time is ripe to show us what the current cycle really wants to do. Will it be down to retest 10 and strive for downwaves, or more rally to aim for 13 and 14. I think tomorrow will be a telling day .Unless... they just keep it flat. Watch the capping pressure resistance around 11.50 and watch the support at 11.00-11.20 to see which lines demonstrate the greater strength.
I appreciate your comments
and hope good trading for you.
tom
so today we got a decent bounce
1 dollar, as I was seeing in the pattern. ,and IMO, bias is looking upward again to try and target 12.00-12.40 area. closer to 12.00-12.15 and the math target area. could start hitting resistance around 11.80, as a clue for bearish pressure. But we got the bounce from 10.50. The real resistance test will be what happens around 12 dollars.
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Stock market/S+P 500 had a good bounce today,and is also looking upward , to see how high it can recover for July. but then watch out for major market crisis, always be on red alert these days. IMO.
and warm greeting to you, too, my friend
yes, the chart was shattered by the big move, to some degree. but the way I sense it, is the 'time frame' is what gets distorted. so I do want to feel my way through these next several days. Some people use the phrase..."when the dust settles" its the same idea. and in another sense , as I described, the targets are still intact in the swing pattern. Its hit the 10.50-10.00 target zone. The nexxt major zone down is 9.50-9.30 area. if one can imagine another slam down this week. The overhead resistance targeet to really watch for would be a retest of the 11.50-12.00 area. There are some targets above that as well, but first major test would be 12 dollars/11.50 area. I'd be looking for 1 dollar moves that turn into 2 dollars, pull back 1 dollar and rally again, or same thing on the downside. up 1 dollar and down 2. Like I said, if we had seen a gradual downwave pullback over a 2 week period, that targets 10 dollars, people would be a little grumpy but longs would be happily saying buy this dip, load the truck at 10 dollars... and (cautious me) I'd be saying , no, I'm not a buyer at 10, I'll wait for 9. or 8. and see what happens.
The charts can still be read ok, it just taakes adjusting the vision a little. and tilting your head sideways.
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So whats next for the price action. Well, given that we just watched a pretty impressive rally to 13 dollars, from 9.50,and prior to that a rally from 7.40 to 13? and then we get this slam down when it retests 13.20... folks would want to call this rally wave bullish,and looking for bullish momentum... so IF we really do have a true bullish energy in the current cycle, we "should" see a good bounce soon. shouldnt we? Lets see if we get one from this major support zone around 10. Maybe it wont come until it drops to 9.40 target area. who knows, cant say . but a true bullish energy should demonstrate its trueness by making a good bounce and holding support in a rally back to test 12 and higher.
I try to trade the waves
as well, by I must admit, my trading could be better
good trading to you.
If you get any meaning from charts
and study chart patterns, today's giant price dump was a big event that disrupted the 'normal' track pattern picture. for one day, when it moves a full pullback distance that should take 2 weeks time.
The swing pattern,which is a good picture to look at, is showing a "bottom zone" at 7 dollars and a top zone around 13.00 (7.20 to 13.20, same thing. ) How many weeks passed to create this swing wave pattern? This is the central pattern in the current picture. 13 down to 7 and back up to 13. I'm not looking at 30 dollars down to 7 or 28/25/23/20/18 down to 7, just looking at 13 to 7 to 13.
The latest major rally wave that went from 7 to 13, has a 50% Fib retrace target area around 10.00-10.20. This is a normal pullback target. Its to be anticipated. Its not a crisis to see a pullback reach that target zone. BUT, when it happens in one day, it looks like a panic sell crisis. IF we saw ,a gradual pullback downwave that took 2 weeks to pullback to this 10 dollar target, we wouldnt be too shocked, because this is right where the 50% Fib target is.
So with today's fast furious plunge, I want to try and let the rest of the week play out and see if the price might bounce back up to retest the 12 dollar area. Thats all I'm looking for now. The time frame has been disrupted. It may need a week to recover,and another week to stabilize and then lets see if it reaches 12 dollar area and recovers from this giant drop to regain the track pattern. It could be a track pattern down to test 10 dollar area. Today it went there in one day. 2 weeks time has become distorted now. Price action needs to pass Time to reconnect to the 'normal' pattern.
Wow...happy monday
this morning opened with a 69 cent jump that immediately got whipsawed down and dropped over 2 dollars . Why would it jump 70 cents only to plunge 2 dollars down.
was there bad news? The 13.00-13.30 area was a major target zone. Now its fallen to the major support around 11.50-11.20 area. Fast and furious.
AVXL bounces again
Same repeat of yesterday's move. Strong jump at the 11.50 target support area. Where to next. An effort to break through the 13 and maybe target the 14's ?
I'm still watching for the big global market to crash sooner than later.
Good 1 dollar bounce today
looking a bit positive.
It is a curiousity huh...
I dont really know what the pre and post market trades mean . The 10.80 area is a target,like 11 dollars. If we get a pop to the 11 area I think it might get a hard sell down from there.
Today looks a big nervous to me.
price slowly creeped up to hit the 10.25 resistance shoulder and struggling here.
Its a worrisome pattern to see a resistance shoulder getting capped like this. we could see a plunge down from here, to support targets.Like the plunge 80 cents from the 10.60 peak. maybe 1 dollar targets 9.25 area. Its not a disaster to pullback there.the bullish wave could hold nicely. and see what happens after that. But for now, we see this capping at 10.25 resistance. Last week it was capping around 9.50/9.30,but the next move was a pop to rally to the 10.25 and then 10.50 peak. so it made that tricky finish move. Now it tries to retest the top, and hits the first target, the resistance shoulder. and It is struggling today to break through it. It did not make any strong move thru it . thats also a warning sign ,IMO. If it keeps getting capped here, I'm looking for the dollar down . The S+P 500 has been making some effort to rally last week, a sigh of relief,in a sense, but is also hitting a resistance zone ,which could spell danger if it falters this week. Its a fairly large resistance zome in S+P overhead, 3900 to 4250,and any trigger point in between could falter.
Good quick rally week.
kind of fast. started from the bottoming last week. surges steadily to reach the targets at 10-10.50 area.
a fast climb along the way up, holding support steps where it needed to. Started a pullback today from the 10.60 peak. A rally from the 7.10/7.40 bottom zone to the 10.50 top zone, a 3 dollar rally wave. now the retrace target zone steps on the chart look like 9.50 - 8.40 area and all the steps in between.
The math pattern could continue higher if the support holds in the 9.00-9.50 range, another 2 dollars could target 11.00-11.75 target area. 11.00/11.25/11.50/11.75 peak.
The stock market decline is poised to collapse after this current bounce.
trying to decide what is a bargain price
to buy more shares... sometimes the basic traders approach is to buy more when the peak gets cut in half. a 50 % Haircut as they call it. So from the latest peak at 13, you have a target at 6.50.
The past peaks above 13, were 16 area. 18/20/23/28/31 area
all those peaks have fallen below their respective 50% haircuts... which were at 15.50 area/14/11.50/10/9/8/ and now we come to the 6.50 target. The 10 area as a peak will have 5 dollars as a haircut target.
IF the market crash is shifting into a higher gear now, how low will the price fall.
Next targets down look like 7.00 and 6.50
Price action this week.
That rally from the 8.10 bottom zone peaked at the 9.30 math target and now pulled back to a critical support zone (8.50-8.40) It really needs to hold strong here to avoid greater bearish bias in the pattern. The resistance peak area around 9.00-9.30 was a critical target area on the chart,so it wasnt surprising to see it finish there, but there was the pullback to watch and see if it would hold above 8.70. It failed that support today. and falls to the 62% retrace target now. Its all a math pattern run by computer trading. The larger rally zone to watch was 9.50-10.00-10.50 area,as a possibility but it has struggled this week, making a fair effort to get half way there, but falling down now. and the week might end around testing the critical 8.80-8.90 resistance for a bounce. and if we get that action tomorrow to end the week, the pattern will remain neutral in limbo around 8.80. with a bias looking down in my view. The greater rally target zone was 10 dollars in my view, and the resistance at 9.30 was a first resistance level, showing the bullish energy was not extremely strong.
The basic pattern in the large chart was the downwave from 13 to 7, and what we watch now since then,is the effort to recover,and the 50% Fib target is 10 dollar area. It reached 9.80 and now 9.30, and has failed to show strength this week ,especially today,making a decisive drop down in a stronger pullback. Its a battle,as always, between bullish and bearish energy. But the larger picture was the downwave from 13 to 7, and since then, the expected retrace climb to target 10 area, has demonstrated weakness from 9.30-9.80, and now its looking at retesting the 8.00-7.80 area if it doesnt hold here at 8.50. This is my view of the chart picture. Watching for the bounce now at 8.50 to hit resistance at 8.85 area , step by step ,it finds the 1 dollar and 2 dollar trade waves. The one happening now might be 9.30 to 8.30. or it could start one from 8.50 up to 9.50. and magic news rumors could make it 2 dollars to target 10.50 and a trade target .The price action clues just have to be watched by traders as it goes along.
Looking at the S+P and AVXL
it was correlating closely with AVXL price action today, just about identical.
a good hold at key support points AVXL 8.45 held and then 8.68.
The magic hand of mister stock market lifted AVXL up with it. Will there be a final target for this rally at the resistance that triggers the next major cycle down, maybe a market crash coming? This major retrace resistance zone for AVXL is 9.00-9.25-10.00-10.75 area and for the S+P 500 its 4200-4300-4400.
S, do you watch the world political economic stresses at all in your outlook?
China Realty corporation, Evergrande is defaulting now. could trigger a chain of falling dominos. I'm also watching the political war theatre between China and Taiwan. as a trigger signal. Wars and threats of war and generating market jitters.
So what does the current price action look like to start the new week.
same as the last few weeks ? looking stifled as it tries to rally up, it peaked at 8.80 and was taken down to 8.10 and now it tries to bounce and so far gets stifled at 8.80. I want to see it test 9 and 9.50 and a decent rally tests 10.00-10.50 area. But a day like today that does the usual fake out to start, the pop and drop, and then goes down lower looking to retest the 8 dollar bottom zone. a 1 dollar move targets 7.80 area. I was looking for a rally week this week, to try and test 10 area, retest 9.80 area, but this 8.80 was a pretty strong resistance target zone on the chart Ive been drawing. so its not too surprising to see the capping here at 8.80. Now 8 dollars needs to hold again. or we'll be retesting the 7's. and another wasted week of wallowing can just roll along. The bounces from the bottoms, demonstrate a chance to become a decent rally wave that should test higher targets to complete the wave, but they fail on days like today. It failed at the 9.80 resistance a few weeks ago , and now fails at the 8.80 The pattern is still looking stifled in all the rally bounces. In the big chart pattern, the old support zone at 10 area and at 9 area is the target zone for resistance now, and coming from a 7 dollar bottom really should at least retest that 9 and 10 dollar zone. so this capping at 8.80 now is a disappointment to see. the bias is looking downward in that regard, in my view. BUT, any good news coming out this week ?? is there any ? would break us out of this bearish slide down .
for sure its a complicated picture now
maybe similar to 2007 as the market was tumbling down. but this time, its supposed to be a controlled crash, under control of a new financial system, QFS, Quantum, and supposedly not corrupt or controlled by the deep state powers, so we'll see how it all develops from here. Theres also supposed to be the release of the hidden cures, the advanced medical technology they have kept hidden from the public, like med beds. I wonder if it will impact Anavex at all. What happens if the med beds can cure ALZ. ? it could render the drug obsolete. all drugs. I want to find med bed investments. You know what some are? Kodak . Ford. Tesla. there are some out there.
yes, I always need to pay attention to Anavex development.
I'm not always the best about that. Trial results will have some impact.
This cycle is working thru a complex economic time of riskiness. Under normal times, I would not have sold any shares,just hold. but I guess I am favoring the forecast of a market crash, a very brief moment , a chance to catch the bottom zone again.It should bounce back pretty well. especially if good news is coming.
when the price pattern was holding at 16 and looking upward to peak at 23,I was hoping to see 24 and 25 as a profit target. But it fell down and then when it broke down below 16 it was another guessing game to see if 10 would hold. 10 didnt hold, so I sold some at 13 in the bounce. Very disappointing not to sell more at 23 and have to settle for 13 later to sell. But I had a few thousand trading shares to play with. and it was ok but not great considering hindsight and what could have been several thousand more profit. But if we see the collapse take price back to 3 dollars again, it will be another chance to load up for the next rally cycle and successful trials giving us a retest of 30 again. I'll be happy with the next 10 bagger.
my portfolio account has the right amount of AVXL shares as a core now. I sold mytrading shares in the last half year,at varying price points, I was happy trimming some at 31 and 28 .I missed trimming more at 18 and didnt trim enough at 13. now I could trim one last time around 10 if it gets there. I do expect a market crash at some point and maybe it could give us a chance to buy at 4 or 3 area. it reached 7 without a crash. so who knows how low it can go. Its a best guess. but for me it represents trading shares so I can wait for the crash and see what happens when the time comes.
The collapse in price began yesterday
from the 9.80 peak. But today alone, collapsed down 1.20 in 3 hours, from 10 am to 1.pm., nonstop, down 13% and then bounced at 8.13. and ended the day plunging down again. So from the peak resistance at 9.83 to 8.13 is a drop of 1.70 ,which was 17% . Which is what baby bio stocks do all the time, dont they. but after watching it all these years, it never stops looking ugly, every time it happens.
So I'm now turning my attention on watching the pullback, and with the rally finished at 9.80,can measure the math. The bottom was at 7.10 area. and measure to the peak that capped at 9.80 area. I was hoping to see the rally continue to hit 10 dollars (10.00-10.50) as a trim target area. but the price controllers had other algos in the computer trading system.
Now looking at a completed rally wave, the basic pullback target area is here at 8.00-8.50, but I personally dont trust it to hold 8.13.
Will we see a retest of 7 dollars or will we see 8 dollar area hold strong.and will we regret buying any here if the stock market crashes and AVXL falls to 4 and 3 dollars again.
The stock market is in a political cycle waiting to Crash. Its just a matter of time. So looking at the S+P chart I see it having made a decent rally that has so far held in its short term bullish pattern. AVXL's bullish rally wave broke down this week, in these last 2 collapsing days. and so I'm focusing on the bottom zone again. From a rally start at 7.10 to a peak at 9.80, the 50% Fib target zone is around 8.45 (8.00-8.15-8.45-8.75)
I'm not a buyer here nor even at 7 dollars. The market is waiting to be crashed.
Is the AVXL rally just following the stock market bounce?
Is the stock market
poised to crash soon ?
Looking at the bigger chart picture,
its curious to notice that virtually every time AVXL bounces since the price was way up there, the usual pattern is to make 3 or 4 up days in a row, and then it comes tumbling down. Its finished the 3 days up now.
pullback and/or downwave coming next?
The stock market took a dive today
to start the week,looking ugly . but for a longer time,was beginning to develop that downwave, just like AVXL has been doing. I like the idea that AVXL could act like a safe haven of sorts, at least for us who understand what we own. But for the average investor who isnt watching AVXL, they wont be thinking, quick, the markets crashing, get into AVXL. No, they will get into gold and silver. But ,as far as trading the waves to try and minimize the loss on paper, the place to have trimmed some profit in AVXL was at 28/24/23/22/and 20 area. 18 was the last chance, and then more recently, we had chances at 13 to play it safe,if one had strong expectations for this big downwave. I had the strong expectations, but I couldnt make myself sell enough at those peaks...and of course, now, I always slap myself for not doing just that. I only sold a little. I think there's no telling where the crash bottom will find AVXL. The stock market collapse,Ive been waiting for might be just starting now. The chart pattern for S+P has broken down now. like it has in AVXL< breaking below the 8.00 area. S+P broke down below 4100. But, lets not panic.That never helps.
Playing it safe and uber cautious, for me, means I didnt buy any at 10 or 9 or even today at 7.50. My own instinct is watching the market to crash and seeing AVXLfall to 6 /5/4 area. and see how things look when / if it goes there. Under normal conditions in the world and in the technical investing game, one could have anticipated AVXL to hold way up at 10 dollars 10-13 area) and play zig zag around 15 and 18 dollars. It takes a market crash to plunge the price down like is happening now. To break down below the 10 dollar area was a big chart breach. and then breaking below 8 is the next one. Today was that key moment, and this morning, it cut down thru 8 like it was nothing. hits the7.60 and settles at the 7.40 area. for now. Its a hemmorage. Maybe tomorrow we can get some clues for any strength here, by watching to see what any bounce looks like. a weak bounce to me would look foreboding. The stock mrket may be starting the Big crash this week. stay tuned to the market action and stay calm.
I'm hoping for the best
and I still believe in the product, but here we are at the mercy of wall street price control, and so far hit the 8.50 target twice. . At least we got a recognizable 50 cent bounce so far,and with some normal follow thru this week we could see a rally try to retest 10 dollars. 10 dollars used to be the double bottom support.... now it could be /should be the resistance to watch out for.
My dry powder has been ready to buy crash bottoms for the last 6 months.
While we watch the price bleed down to 8, with no market panic, where would the price go if the stock market crashes in the next week or so.
Price action today
Shows a tight range bouncing between 10.40 and 10.80 and its waiting to break up or down,from this zone around 10.60, is the basic move to look for next. . Any big bounce breaking above 10.90 and looking like a rally wave with volume, would change this track forecast. Likewise if the price breaks down below the 10.40 support, suggests a downward bias still ongoing, and lower targets would be in play. Resistance zone around 10.60 could generate a dollar down to test 9.50 and 9.25 bottom. A rally upward could target 12.00 to 13.50 area.
If there is a pattern to the chart,
We can see a previous low at 9.30 with a 4 dollar rally to 13.30 Then a retrace to 10/ 9.90 area followed by another rally to retest 13.30 again. Followed again by a retrace so far, back to 10.50.
It could only be called a Range pattern at this point. And otherwise, possibly a continued downward below 10, becomes a new downward pattern, which opens up targets 9/ 8.50/ 8.00/ maybe 7 and 6 area
The week begins with a plunge to the 10.50 target.
Another day in the down wave. The support step at 11 failed. The bottom is yet to be reached. 10 dollars seems likely now as the next step