AI
My AVXL chart for Monday November 9....sponsored by Dos Equis beer.
This is the finished geometric chart ,which I will deconstruct backwards.
The key visual in this picture is the 5 dollar target zone right below the current low today.... (4.80-5.70)
See one of the Fib Arcs directly cuts thru the 6 dollar bottom today. But the next Fib arc down in the cycle set is cutting thru the 5 dollar target zone.and a shadow arc thru the 5.20 target area. There are pivot points at 5.16,5.67 and the bollinger bottom is there.
Yes there is the great outer Arc that flows along the ominous 200ma around 3.26,a pivot point around 3.67 Its a target zone BUT the target at 5 dollars-5.60 is a strong one according to this geometric chart. and by golly it just might be good enough to generate a tradable bounce. which for me would need to retest the 9 and 10 dollar Fib retrace zone to be worth trading some break even shares.
But for now, this geometric chart, along with its pivot points gives a clue that this 5.00-5.70 target zone could be strong enough to hold.Finally. at least it bears watching.
When the rally was in progress and peaked at the 14.84 top...this Fibonacci retrace target zone could be drawn.and the picture shows what the Support zone should look like at the Left shoulder support. Its a place where a bullish wave pattern should hold support and rally on.
The next chart is drawn from the pivot low at 5.47,back when the reset was first introduced. Its a key point on the chart pattern.
OK, its become 'crunch time' now, turning to the next lower Pivot bottom is the critical 98 cent double bottom...one can make a good case that the reset ,the uplisting, the reverse split, which began after this double bottom at 98 cents...this bottom has a claim to call itself the new chart Bottom. No longer at 20 cents, or 45 cents, this 98 cent zone has something to prove IF AVXL will continue to be bullish and uptrending.
and here it shows the Fibonacci target zone in the next chart.
It shows the rally wave pattern from the 98 cent double bottom,that was a key pivot low that set the bottom base for the big rally to 14.84...
Now, this wave pattern is still intact,and despite all these failures to hold a bunch of support levels,from 11.70 all the way to the current lows, this bottom target at 6 dollars and even the 5 dollar target zone below, does not shatter this wave pattern.
And below the 5 dollar target is the complete retrace at the 4 dollar (1.00) Base.
IF this bottom at 6 dollars holds ,or the bottom target at 5 dollars holds support and we see a Rally bounce from these points...the Fibonacci retrace bounce is shown on the next chart.
...and IF the speed of this severe pullback had been slower over time, the weeks that would pass, would create this Larger Arc that targets into the 11 and 12 dollar retrace zone.These Targets could be in play still but need a more complex upwave to develop over those weeks.in a slower time frame. IF AVXL trading would just slow down and take the time to get there.
IF a bounce takes off now from the 6 dollar Bottom, the key bounce targets appear at 9.40 and 10.40 Bullish momentum would target 11.40.Bearish pressure could cause trouble as soon as the 50ma at 7.30 and above that at 8 dollar area.
This is the finished geometric chart ,which I will deconstruct backwards.
The key visual in this picture is the 5 dollar target zone right below the current low today.... (4.80-5.70)
See one of the Fib Arcs directly cuts thru the 6 dollar bottom today. But the next Fib arc down in the cycle set is cutting thru the 5 dollar target zone.and a shadow arc thru the 5.20 target area. There are pivot points at 5.16,5.67 and the bollinger bottom is there.
Yes there is the great outer Arc that flows along the ominous 200ma around 3.26,a pivot point around 3.67 Its a target zone BUT the target at 5 dollars-5.60 is a strong one according to this geometric chart. and by golly it just might be good enough to generate a tradable bounce. which for me would need to retest the 9 and 10 dollar Fib retrace zone to be worth trading some break even shares.
But for now, this geometric chart, along with its pivot points gives a clue that this 5.00-5.70 target zone could be strong enough to hold.Finally. at least it bears watching.
When the rally was in progress and peaked at the 14.84 top...this Fibonacci retrace target zone could be drawn.and the picture shows what the Support zone should look like at the Left shoulder support. Its a place where a bullish wave pattern should hold support and rally on.
The next chart is drawn from the pivot low at 5.47,back when the reset was first introduced. Its a key point on the chart pattern.
OK, its become 'crunch time' now, turning to the next lower Pivot bottom is the critical 98 cent double bottom...one can make a good case that the reset ,the uplisting, the reverse split, which began after this double bottom at 98 cents...this bottom has a claim to call itself the new chart Bottom. No longer at 20 cents, or 45 cents, this 98 cent zone has something to prove IF AVXL will continue to be bullish and uptrending.
and here it shows the Fibonacci target zone in the next chart.
It shows the rally wave pattern from the 98 cent double bottom,that was a key pivot low that set the bottom base for the big rally to 14.84...
Now, this wave pattern is still intact,and despite all these failures to hold a bunch of support levels,from 11.70 all the way to the current lows, this bottom target at 6 dollars and even the 5 dollar target zone below, does not shatter this wave pattern.
And below the 5 dollar target is the complete retrace at the 4 dollar (1.00) Base.
IF this bottom at 6 dollars holds ,or the bottom target at 5 dollars holds support and we see a Rally bounce from these points...the Fibonacci retrace bounce is shown on the next chart.
...and IF the speed of this severe pullback had been slower over time, the weeks that would pass, would create this Larger Arc that targets into the 11 and 12 dollar retrace zone.These Targets could be in play still but need a more complex upwave to develop over those weeks.in a slower time frame. IF AVXL trading would just slow down and take the time to get there.
IF a bounce takes off now from the 6 dollar Bottom, the key bounce targets appear at 9.40 and 10.40 Bullish momentum would target 11.40.Bearish pressure could cause trouble as soon as the 50ma at 7.30 and above that at 8 dollar area.
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