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[123tom]

AVXL again

That rally wave from 2.23 to 3.21 that failed to continue, instead of a full rally pattern,it became an ABC bearish wave that fell to lower lows.
The second peak at 3.10 represents the Failure point for the ABC wave pattern. and from there at 3.10 has been the downwave to the present. When you count those swing waves from 3.10, you can see AVXL is finishing the Wave 5 now and to me it looks like the downwave target step is wanting to touch 2 dollars . an overshoot might reach 1.90. The lines of Fib arcs and channels are sharp to the target points. which tells me this Fibonacci math pattern is a good and true math picture worth looking at.

Finally AVXL downwave begins to finish its Elliott 5th wave
suggesting the Bottom is possibly finishing now