Thursday, March 30, 2017 9:43:51 PM
Slap me if you want for jumping in here.
The thing IMO that makes looking at lower targets importatnt right now are the following.
The rsi is divergent making lower highs with the rising recent two highs and lower lows.
When you draw the uptrend line for last month or two months it has broken to the downside.
Drawing the 6.64-6.30 downtrend line shows price falling out of triangle and price in danger of falling below the pivot, ma (8ema/20midline) convergence.
TSI black line (trend) is starting to fall from neutral.
macd is negative divergent from March 21.
All of this indicates increasing downward pressure on price if it doesn't stop/reverse quickly.
IMO, this is why Tom is paying so much attention to those lower targets. Bulls don't like to hear it.
Not drawing up and downtrend lines and lateral support/resistance lines leaves one open to surprises.
The only thing that will stop this slide is buy volume. To bring in buy volume a catalyst is needed.
Thus, no substantive news (percieved or real) and erosion will continue. It is what stocks do, especially early stage companies without revenue. It is a matter of what is, in the present, not a condemnation of the company.
Issues not addressed in this post are individual strategy and goals.
Best wishes to you and all AVXL holders/traders.
The thing IMO that makes looking at lower targets importatnt right now are the following.
The rsi is divergent making lower highs with the rising recent two highs and lower lows.
When you draw the uptrend line for last month or two months it has broken to the downside.
Drawing the 6.64-6.30 downtrend line shows price falling out of triangle and price in danger of falling below the pivot, ma (8ema/20midline) convergence.
TSI black line (trend) is starting to fall from neutral.
macd is negative divergent from March 21.
All of this indicates increasing downward pressure on price if it doesn't stop/reverse quickly.
IMO, this is why Tom is paying so much attention to those lower targets. Bulls don't like to hear it.
Not drawing up and downtrend lines and lateral support/resistance lines leaves one open to surprises.
The only thing that will stop this slide is buy volume. To bring in buy volume a catalyst is needed.
Thus, no substantive news (percieved or real) and erosion will continue. It is what stocks do, especially early stage companies without revenue. It is a matter of what is, in the present, not a condemnation of the company.
Issues not addressed in this post are individual strategy and goals.
Best wishes to you and all AVXL holders/traders.
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