123Tom's TA study group

[123tom]

I'm looking downward as well
but today was interesting in that it made a fake out pop, 1 dollar to get hammered at 16 dollars. The math pattern was looking at a peak already achieved at 15 yesterday.I was looking for today to show resistance, and a big pop at the open would be a technical sell, I didnt want to sell at 16 but I would have at 16.50. but now,you can see what the downward slam did,looking to retest the 13.50-13.00 key support zone targets. I was looking for this retest today, but without the opening pop. This chart draw can show that channel slide from the 15 dollar peak to the 13 area.(see your 8 EMA) heading up toward 12.50,thats a key target in play now.
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So the other day,I was watching the price action and saw this key support zone developing at 13.00-13.50 area to Hold for the bullish pattern. But in a Range pattern, we would be looking at a peak zone around 15 and a Low zone around 12. (15.00-15.50 to 12.00-12.50 area)
and with todays big fake out pop and drop at 16 dollars, and the big sell down, shows me the MM's or sellers have the power to move this up and down in this zone,15 to 16 to 13 to 14 and a lot of volatile movement now at these bigger prices, we are seeing routine 1 dollar and 2 dollar moves, instead of what used to be 50 cent and 1 dollar moves. but the technical price action is the same,just with bigger numbers.
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AVXL fakeout popat open

So I'm watching all along, for this key support zone 13.00-13.50 area. to hold or Not. and now the resistance zone overhead (13.80-14.00-14.20-14.40 area), that could cap and roll over for another 2 dollar downwave. to target 12.75-12.50-12.25 area) and test that Pivot Low. in what becomes more of a Range Pattern if it does this.
IF its Not becoming a Range pattern, and it heads downward to test 12 again,then its likely to be a major downwave ongoing, that could continue to the 8 dollar target zone.down the steps, 11 then 10 then 9 and then 8.
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but its too soon right now, to forecast the finished pattern. right now, important support zone is being tested at 13.50-13.00 area,and today was a psychological test for people to see the opening pop of 1 dollar as nothing but a fakeout,not a true rally blast, a manipulated fake out, the toppy peak zone was 5.00-5.40 area.(Notice the math pattern of these pivots, they have almost All been doing the .30 cent thing...11.30/12.30/13.30/14.30/15.30 ) I was ready to sell a little at 16.30 and 17.30. (this pattern also has 18.00-18.30 and 19.30. as bullish achievements, but right now, I'm looking at extreme tops at 17-18 area. 20 would be very extreme. in my opinion only,of course. Would AVXL be developing a new chart picture, with a peak at 18 and a 'Bottom' at 8 dollars now?
So on your chart ,the marker that stands out to me now is the 8 EMA heading toward 12.40 to see if it gets hit and makes a good bounce up from a 'double bottom' at the 12.30 pivot. But first is the current one to watch here at 13.20 area (13.00/13.10/13.30)