Is AVXL bouncing or is it flat...
like you surmised on Monday... either we get a decent bounce off the 3.67 pivot low or if it stays flat theres more chance of continuing down to 'fill the gap'.... its looking a little flat so far. how will tomorrow end the week now... holding today at the critical 3.80 but dipped to 3.75 as a support pivot. it still looks like a flat bounce so far. I would have expected to see a better bounce come from the 3.67 low...to retest 4 dollars at least. The suppression seems more dominant. Maybe it needs another week to generate some interest in buying this 3.75 area ,if investors are waiting to see where this bottom zone stabilizes. It could take a few weeks. it could finish the year flat, but then again, if the hype was about trials starting in 2017 as if that's a big rally catalyst... we could see disappointed traders/investors lose interest at year end and close positions....wouldn't that push the price down to the obvious targets at the weekly 200ma , 3.45 area....and heading in the wrong direction going into 2018. Folks will see 2017 as the year of no rally, the year of disappointment in share price performance.
If I recall, wasn't last year ended around this price (3.80) ? but then the rally took off from there to peak at the 6.64/6.49.... will we get another such rally if its not the same news cycle . there was a news cycle developing for 2017. what is the cycle for 2018 coming now, that would generate a repeat of that rally to 6.50?
Right now...a lot of uncertainty heading into the year end. and reflected in the downward price ,bottom formation developing, uncertain whether this 3.70 target zone will become a bottom here. when the 3.50/3.30 zone is waiting for the next dump. I suspect the next dump will start as soon as AVXL pops to touch 4 dollars. but I could be wrong. it could pop and run to 4.10 or 4.20 and then get dumped down again. or it could climb to 3.95 and get dumped tomorrow without even reaching 4 dollars. today saw a dip to 3.75. and now holding at 3.80.
Back in the spring when AVXL price was floating and staying up around 6 dollars and holding 5.55 and pushing back up to 6.15/6.30 area, everyone was waiting fir the next rally wave to target 7 and 8 dollars. and the chart pattern was looking that way. but when the breakdown happened....now we are looking at a completely different picture. a roadmap to the bottom zone. It spent the first 6 months of 2017 looking at a rally to 8 dollars, and spends the last 6 months developing a track to the bottom zone at 3 dollars.
When AVXL "bottomed" at 3.33 and rallied back as high as the 200ma at 5.15, made that bounce and plunge twice...got Capped at 5.15 by the powers who wanted to bleed it back down. and so here we are again, in the bottoming zone, waiting for something to generate the next bounce. its been very slow developing so far.
