and in the time it took me
to write my comments, AVXL took a little plunge lower. and is looking at the 22.50 target now. I see 22 waiting. and then we can watch what that "base shoulder support" at 22 shows for strength.
SO lets think in the traders mind for a second. or the eager beaver getting excited to buy more. Those less cautious would probably have bought yesterdays low at 23.80 area, and now, wishing they had waited.
I waited yesterday, anticipating lower targets. I might consider a small nibble around 22 if it shows any strength, but even small nibbles cost alot these days now LOL.
If we see it hold at 22 and bounce, it would need to hit 25 again just to get half way back up. and 25 becomes the resistance shoulder zone now. it actually is already now. People can continue to be excited about the news and bullish sentiment, but IF the price follows the force of downward pressure, it could just bleed and bounce and cap and plunge and bleed down ,like we have see AVXL do for years, including now. like last time. Maybe not as bad as last time, but gee whiz....is 19 really a bargain?
This downwave could stop at 22, or it could just be the first portion of a larger pullback. From 28 to 22 is 6 dollars. a bounce to 25 and then another 6 dollars hits the 19 target. Who knows what can happen. but Elliott waves are visible on the chart. and the pullback is the dominant direction happening since the 27.80 peak the other day.
When the surging blast started, the first major zone was 19.00-20 area. Thats my target to watch at this point. I could be wrong.
That zone from 18-20
