AVXL starts the week retesting the bottom zone
it started at end of day friday,from the 4.30 peak. In the little pullback wave the 4.10 area was the retrace support target zone, and it failed to hold, as price retested 3.88. Now resistance is shown at the 4.10 area and every step above that. Rally target zone looks like 4.40 area and the chore of recovery awaits AVXL to climb back above the 4.40 to start retesting 4.75 area and see how much strength it has to try and reach 5 dollars. People looking to buy the dips ,have had 3 chances now at 3.75 and 3.88 twice. these math targets are on the chart. but if we get some selling bleeding momentum going now that these downwave movements are demonstrating not just a one-time plunge, but a continued effort of selling, then momentum could break down the price lower, and my stink bids are looking lower than 3.70 now. I miss the bottom sometimes when I keep looking for lower lows, but the bullish bunce follow up in a rally coming off the previous 3.88 that reached 4.30, not a bad bounce there...came tumbling down again today, so there was no bullish follow thru today. If theres a clue here, it tells me the lower targets are in play below 3.70. as I look for best bargain bottoms to buy. 3.60 target would completely erase the rally that peaked at 5.65. something AVXL investors are used to seeing. The bullish pattern was needing to Hold steady at the 4.30 area. Now it became resistance last week and the price action has fallen downward.
What strength of support does AVXL have at 3.85/3.75? 3.70 is a shoulder but 3.40 is stronger.
