123Tom's TA study group

[123tom]

Nice rally continuation today AVXL.

retesting the 3.25 capping step.
I dont mind another pullback here, but lets see the support steps really hold strong again, no more 2.90, it needs to hold at 3.00-3.10 now, holding higher lows, and then break out above 3.25.
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I hadnt looked yet at todays action. ok, we have a nice continuation to the rally, makes its first break thru the 3.25, hits resistance at 3.35 and now we get to see what kind of selling strength happens here at 3.30/3.40 area.

IF this price action is all technical, this break out thru 3.25 will hit strong resistance here at 3.35-3.45 area,3.50 might be the extreme pressure target that gets hammered. What buying strength that is only technical could take it above 3.50 now, I would be cautious to hold too long as a trade. But IF this move comes from news, then it could run above 3.35/3.45 resistance.
good rally but hits resistance at 3.35 area