It may be an ugly failure, but without closing the week above 3.88 the .54 remaining gap will have additional strength. It will also cause hesitance among many watching for an entry. Without something new to give a boost, down would be the likely winner. Yes, sideways is also an option if 3.70 holds. While I respect and find waves etc sometimes uncanny in prediction, I am coming to place more weight on Price, Volume and supply/demand candles. I get stuck in the KISS methodology. http://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=1&mn=0&dy=10&id=p88970954290 Look how todays high and yesterdays low line up exactly with the top of the supply candle from last November of 3.16. Note the 3.87 May and 3.88 Aug supply candles as potentential resistance, coupled with the basing in June as increasing that resistence. Hence, my desire for a close over and establishing that as support again. It would also create some strength to have the bottom of the VbyP bar at 3.50 establish itself if 3.88 doesn't. There is more but using the inspect line both horizontal and vertical key points many of which you have noted are clear. In a shorter time frame the same proceedure adjusts the VbyP bars slightly and all the supply/demand candles used are condensed to 4 months, but the information conclusion is very close in overall terms. http://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=0&mn=4&dy=0&id=p60270137379 Something for ya to play with and compare to your mathematics when you have a little "free" time. Best wishes to you and all AVXL'ers.
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