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[123tom]

AVXL Fib arc chart picture

I'm having unsolvable problems with my laptop,have to go buy a new one. so this might be the last chart from me fora while. (stop cheering)
This is what the Fib arc pattern looks like. I like the Fib tools, and somehow they show the playing field pretty good. and the price action just seems to be magnetically drawn along the track patterns. good enough to have some vision . the 20 and 21 area is the first resistance zone there is a qualitative value to higher price points. 23 is better than 22, and the bullish bias starts to develop IF 25 and 26 get reached in this pattern. The key in the developing picture,is for the rally to climb as high as the 24/25/26 area to finish , so that... it has enough room to pullback and HOLD strong support at the 21/20 shoulder zone. to develop a reverse head and shoulders picture. Thats where the bullish support would and should develop,but first we need more follow through climbing to those higher targets. Right now the 20/21 shoulder zone is a Resistance step,and we might see some strong resistance right here at 20/21 that could roll over and send the price tumbling into the next downwave that should retest the 17 and maybe find lower target steps. Thats the caution for the next rollover .It could be ready to do that now. or after a few more tests of the 20/21 area. So the bullish momentum would begin here IF we see the next follow through rally, Break above 20/21 area and make a determined push into 23/24/25/26 area. would give enough breathing room for the pullback to have a chance to turn that 21/20 shoulder zone from a resistance step to a support step, and thats how the picture would change from bearish bias to bullish bias. in this current cycle.
And another larger view of the big picture still warrants caution Even IF price rallies to 24 area because the big downwave from 31 and 28 to 18 has a 50% retrace target around 23/24/25 as a resistance zone that could also roll over and try to create the next major downwave to retest the 17 and maybe fall to lower targets.
So its all something to watch in the coming month. and while this can be the technical picture to watch for, IF the news cycle is still offering some great news potential then the upwave momentum could take over and we ought to see the higher targets hit and the 20/21 shoulder Holding easier.
AVXL chart