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[123tom]

AVXL messy chart


It shows me something important

The biggest thing this unreadable chart shows, as I was constructing it, with a Fibonacci math pattern plot,and an Elliott wave pattern, and using the 50% Fib line as a basic magnet target... This chart measures from both peaks at 31.50 and at 28. to both Lows at 17.37 and 16.55, and all the key Fib retrace zones are plotted as well as all key Fib arcs. It shows that after AVXL made a big pullback to 17.37 from 31.50 the retrace bounce should have retested the 24 area At Least. as a 50% retrace. BUT it only went as high as 21. That was a weak rally bounce. All the Fib targets are showing that the retrace back up should have retested 22/23/24 area and to Fail at 21 is showing a bearish bias... coming right after a big bullish rocket surge to 31. it stalled at 21 and then 20 and now it wallows down at the 17/16.75 Bottom zone, unable to bounce strong in the last week.