123Tom's TA study group

[123tom]

AVXL follow up chart


moving upward along the track pattern I drew last week.

Compare this chart with the previous one

Resistance pressure here around 4.25-4.40 area to watch. Larger rally pattern is looking to target 5 dollar area. Stalling out here in the 4.30 area would represent a target less than the 38% - 25% Fib
target zone (4.40-4.65) In my view, it becomes a bearish movement to stall out at the 4.40 resistance.(an ABC pattern) when the full rally math target is looking to finish around 5 dollars.
So this upward movement is really just beginning. and still sits at a resistance zone 4.25. Climbing higher lows and higher highs is what we want to see in a bullish pattern and we have that, but it needs to continue and not get all tired out here at the half way point.
I want to see support holding 4.10-4.05 now and follow thru rally to 4.50 then holding 4.30 area and follow thru rally again to target 4.88-5.00 target zone.