Following AVXL price action
From the last rally peak at the 13.80 area, AVXL drops a dollar to low pivot today at 12.76. predictable 1 dollar moves. Then the rally today back to test the 13.65 peak area and the pullback to test 13.20-13.00 target area ,looking to Hold... and I'm looking for a 1 dollar rally tomorrow to target 14.00-14.25 area. Higher targets in the pattern,looking to test 15.00-15.25/16.00-16.50 and finish at 17 area. The higher it goes ,above 16, the more risky it becomes. The old blast peaks at 28/26/25/24/23/21 and 20 might have been too high and too soon. I could be wrong as to how the upward force will be pushed and played by wall street, but the technical math seems to suggest lower targets for now, straining to reach 17 again. The entire Bottom zone playing field has just begun to get tested at 11.50 area. Below that is 10/9/and 8,I think somehow could still be waiting as targets in play on the larger picture. So far, the 11 dollar target zone has held. But IF...if if... the peak becomes solidified (wherever that will become) maybe at 17 or 18... then that would be what sets the new pattern in motion to start selling down as low as it can be taken. we could see a Range from 18 down to 8. or 17 to 9...anything like that. maybe 50% haircuts,like 18 to 9 or 17 to 8.50 Its a new chart picture, but it might be the same old wall street trading game,just with bigger numbers. We already saw a giant take down from 28 to 11.30. Now the secondary peaks have been 19.50 and 17.50 ,and the downwave hit 11.80,so far. Now its bouncing back upward and has resistance steps to test along the way, at 14.50-15 area, then 16 area then 17 area.
I suspect, that Once the resistance peak starts solidifying the capping zone...we will then see a big sell down effort from there.
