Wednesday, May 17, 2017 9:17:35 PM
Looking at AVXL in Both directions.....
Always see the tracks in Both directions. The balance point in the battle zone is this 5.85 area, acting now as Resistance, other times as "support" ,and that sentiment changes all the time as the price breaks above or below it.
right now, the odds of the next 50 cent move from this 5.85, has target down at 5.35 and target up at 6.30....see that ? the balance point at 5.85 area.
Its always necessary to see the target tracks in Both directions. and now just watch what happens as price bounces back to retest the 5.85/5.95 resistance zone. IF it hits there and bounces down, watch to see if magic strength holds support at the 5.75 zone(5.70-5.75)...it could hold there and magically rally up again. That's a technical pattern setting up on this chart. But if it falls at 5.90 and Doesn't hold support at 5.70 step, but plunges again to 5.60, then the bias becomes more bearish, for lower targets in play, at 5.60/5.50/5.37 target zone.
watching the bounce,climb the stair steps, watching the pullback down,where does it hold or does it fall lower..... these steps represent the battle being won by bears and bulls, the price action,if the downwave is dominant, will Not hold support at 5.75,or 5.80 area, it would retest 5.60 and make the lower targets come into play. a real test of this 5.60 base. The bullish looking bounce would rally now back to 6 dollars and Hold the support at 5.85/5.75 area and rally back to play around 6.10-6.15 and try to target the 6.30. This kind of rally bounce has been the one in play for 2 months now. Price needs to rally thru 6 dollars and stay above 5.80. The bearish bias is to see it failing at 5.90/5.85,failing at 6 dollars, and failing at 5.80, and retesting 5.60. on a larger pattern, this support at 5.60 is good. but in the short time frame intraday, like todays plunge, the 5.60 target is a bearish win. and the next bearish win would be to see price Fail badly at 5.90 area and fall back down again to 5.60 ,
Always see the tracks in Both directions. The balance point in the battle zone is this 5.85 area, acting now as Resistance, other times as "support" ,and that sentiment changes all the time as the price breaks above or below it.
right now, the odds of the next 50 cent move from this 5.85, has target down at 5.35 and target up at 6.30....see that ? the balance point at 5.85 area.
Its always necessary to see the target tracks in Both directions. and now just watch what happens as price bounces back to retest the 5.85/5.95 resistance zone. IF it hits there and bounces down, watch to see if magic strength holds support at the 5.75 zone(5.70-5.75)...it could hold there and magically rally up again. That's a technical pattern setting up on this chart. But if it falls at 5.90 and Doesn't hold support at 5.70 step, but plunges again to 5.60, then the bias becomes more bearish, for lower targets in play, at 5.60/5.50/5.37 target zone.
watching the bounce,climb the stair steps, watching the pullback down,where does it hold or does it fall lower..... these steps represent the battle being won by bears and bulls, the price action,if the downwave is dominant, will Not hold support at 5.75,or 5.80 area, it would retest 5.60 and make the lower targets come into play. a real test of this 5.60 base. The bullish looking bounce would rally now back to 6 dollars and Hold the support at 5.85/5.75 area and rally back to play around 6.10-6.15 and try to target the 6.30. This kind of rally bounce has been the one in play for 2 months now. Price needs to rally thru 6 dollars and stay above 5.80. The bearish bias is to see it failing at 5.90/5.85,failing at 6 dollars, and failing at 5.80, and retesting 5.60. on a larger pattern, this support at 5.60 is good. but in the short time frame intraday, like todays plunge, the 5.60 target is a bearish win. and the next bearish win would be to see price Fail badly at 5.90 area and fall back down again to 5.60 ,
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