Sunday, June 18, 2017 3:34:13 AM
ok,enough AVXL for tonite....
screen capture tool works ok .
I want to be able to evaluate this AVXL chart with a rational mind free of any fear or bias toward downwaves.... But as I look at the chart now.... there are so many warning signs now,created by the plunge break down below the 5.50 support.,that changes the shape of the chart , the momentum, the bullish rally sentiment appears faded away fast now, and the shorts are emboldened. Yes, its still possibly a Range Pattern and IF we see a big bounce continue Monday that surges back up to the 5.75 area ,it will look better.
But,Notice all the other rally bounces, from the 4.95,5.17, etc...they all have a pattern, 2 or 3 days up and that's it. the spike at the bottom, like the one we just got from 5.10 on Friday. there are sometimes just 1 day of bounce, other times 2 days and sometimes 3 days but not much after the 3rd day. You can count the bounce from 5.10 to end Friday at 5.35 as the first day, we might see 2 surgiing days and if it reaches the 5.80 area,I might have to bail there.
Remember one thing important about all those rally bounces, they were happening before the news conference, the investment conference I should call it , not a "news" conference. and traders/investors were bullish anticipating the good catalyst coming from the conference, and which we got no catalyst at all from it. but the sentiment was bullish, and that's why the time approached with a Rising wedge into that conference. Then after the conference we get this collapsing downwave....its very possible that the momentum now has SHIFTED to a bearish momentum sellers wave pattern shorting it down as far as they can take it and selling /attacking any good bounce. Maybe not here at 5.40 but anyplace above 5.55, and especially after a big green candle,like the ones we got in those rally surges. They reached a first big candle peak around 5.80-6.00 area. I think we might be lucky to see AVXL bounce that high this time.
Just thoughts to ponder .
IF we are in a downwave bias now, I'm beginning to feel we are looking at stronger downwave bias now, It will be critical to watch the resistance closely now as it gets back toward that 5.70 zone. The super strong wall of resistance is at that 5.85 area where the key moving averages are and a pivot point are now crafting a 'technical steel wall" Looking at that 5.85 resistance level is foreboding. What will sellers/short attackers do when it gets there.
1 or 2 days of a big candle bounce to 5.85 and I might be compelled to dump those shares I bought around there.
screen capture tool works ok .
I want to be able to evaluate this AVXL chart with a rational mind free of any fear or bias toward downwaves.... But as I look at the chart now.... there are so many warning signs now,created by the plunge break down below the 5.50 support.,that changes the shape of the chart , the momentum, the bullish rally sentiment appears faded away fast now, and the shorts are emboldened. Yes, its still possibly a Range Pattern and IF we see a big bounce continue Monday that surges back up to the 5.75 area ,it will look better.
But,Notice all the other rally bounces, from the 4.95,5.17, etc...they all have a pattern, 2 or 3 days up and that's it. the spike at the bottom, like the one we just got from 5.10 on Friday. there are sometimes just 1 day of bounce, other times 2 days and sometimes 3 days but not much after the 3rd day. You can count the bounce from 5.10 to end Friday at 5.35 as the first day, we might see 2 surgiing days and if it reaches the 5.80 area,I might have to bail there.
Remember one thing important about all those rally bounces, they were happening before the news conference, the investment conference I should call it , not a "news" conference. and traders/investors were bullish anticipating the good catalyst coming from the conference, and which we got no catalyst at all from it. but the sentiment was bullish, and that's why the time approached with a Rising wedge into that conference. Then after the conference we get this collapsing downwave....its very possible that the momentum now has SHIFTED to a bearish momentum sellers wave pattern shorting it down as far as they can take it and selling /attacking any good bounce. Maybe not here at 5.40 but anyplace above 5.55, and especially after a big green candle,like the ones we got in those rally surges. They reached a first big candle peak around 5.80-6.00 area. I think we might be lucky to see AVXL bounce that high this time.
Just thoughts to ponder .
IF we are in a downwave bias now, I'm beginning to feel we are looking at stronger downwave bias now, It will be critical to watch the resistance closely now as it gets back toward that 5.70 zone. The super strong wall of resistance is at that 5.85 area where the key moving averages are and a pivot point are now crafting a 'technical steel wall" Looking at that 5.85 resistance level is foreboding. What will sellers/short attackers do when it gets there.
1 or 2 days of a big candle bounce to 5.85 and I might be compelled to dump those shares I bought around there.
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