Wednesday, November 15, 2017 12:55:01 PM
The bearish section of AVXL chart....
the structure of the price action that has created this chart picture, shows that 4.32 was a key support point that needed to hold, then later,the 4.50 peak was a critical reversal point, and the line that cuts thru those points demarcates the upwave versus the downwave. (red zone) and from the Failure at 4.50 came this downwave section that AVXL sits in now.
stuck in the box , but bleeding below 4 dollars is looking at sliding down some more . I hate to say it, but the lower target zone is in play,and those target points from 3.80/3.75/3.70/3.65/ all the way to 3.40 and 3.30. There are even some technical calculations that showed the 3 dollar point as having some magnetic pull. but first steps first, the MM's know how far down they can push it. The next major step down is 3.80 and 3.75, but I personally remain cautious about buying the steps at 3.80, when there are several lower steps in play. and limited dry powder. This price below 4 dollars,now 3.85 area seems a good time to accumulate shares for those who don't already own enough. but for me, already owning too much, I might wait to see if it targets 3.50 area. and if it does, it also means the rally Capping target might become 4.50,as a bounce and anything more than that is greedy,in this technical pattern. Like the last time it bottomed at 3.33, it rallied to peak around 4.20 then around 4.60. we might get a repeat of that same pattern. Various gyrations from 4.00-4.75,while we wait for great news to end this misery.
Its all running along technical trading and manipulation by the MM's bleeding down game, BUT at the same time, we are supposed to be in a big news cycle that could generate a big rally. so its a tricky game to be trading and selling shares at 4.50-5.00 area,just as a technical trade, might be the right thing to do, but as a buy and holder expecting a big rally, those rally targets for a big rally wave are at 6.50 and on up thru 10 dollars, if it would Ever do it !?!
But the current chart is in the red zone. and its still a game of bottom fishing. and the first question to ask oneself, is ...will 3.80 become a Magical support line that will hold?? I don't believe in such a magical power. maybe the weekly 200ma would be 'magical' like it was last time and hold at 3.50.
the structure of the price action that has created this chart picture, shows that 4.32 was a key support point that needed to hold, then later,the 4.50 peak was a critical reversal point, and the line that cuts thru those points demarcates the upwave versus the downwave. (red zone) and from the Failure at 4.50 came this downwave section that AVXL sits in now.
stuck in the box , but bleeding below 4 dollars is looking at sliding down some more . I hate to say it, but the lower target zone is in play,and those target points from 3.80/3.75/3.70/3.65/ all the way to 3.40 and 3.30. There are even some technical calculations that showed the 3 dollar point as having some magnetic pull. but first steps first, the MM's know how far down they can push it. The next major step down is 3.80 and 3.75, but I personally remain cautious about buying the steps at 3.80, when there are several lower steps in play. and limited dry powder. This price below 4 dollars,now 3.85 area seems a good time to accumulate shares for those who don't already own enough. but for me, already owning too much, I might wait to see if it targets 3.50 area. and if it does, it also means the rally Capping target might become 4.50,as a bounce and anything more than that is greedy,in this technical pattern. Like the last time it bottomed at 3.33, it rallied to peak around 4.20 then around 4.60. we might get a repeat of that same pattern. Various gyrations from 4.00-4.75,while we wait for great news to end this misery.
Its all running along technical trading and manipulation by the MM's bleeding down game, BUT at the same time, we are supposed to be in a big news cycle that could generate a big rally. so its a tricky game to be trading and selling shares at 4.50-5.00 area,just as a technical trade, might be the right thing to do, but as a buy and holder expecting a big rally, those rally targets for a big rally wave are at 6.50 and on up thru 10 dollars, if it would Ever do it !?!
But the current chart is in the red zone. and its still a game of bottom fishing. and the first question to ask oneself, is ...will 3.80 become a Magical support line that will hold?? I don't believe in such a magical power. maybe the weekly 200ma would be 'magical' like it was last time and hold at 3.50.
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