today looks uneventful so far/ oops
price has been hitting resistance in the stubborn 11.00-11.25 area, and the support around 10.80 is acting like it wants to hold but I dont trust the support line there. I'm looking at lower targets closer to 10.40-10.60 to try and hold. The rally sems to be struggling to push above the 11.25, so the more bullish targets at 11.75-12.00-12.25 and higher seem a bit far away now, after watching a nice 1.30 rally last week, the new week starts sluggish, but that doesnt have to meaan negative, tthe zig zag zone here could just be waiting to see what the greater stock market does. The S+P is holding up ok today.... no Monday Crash. so it all remains uncertain , and maybe also does AVXL in its zig zag range between immediate support and resistance. IF we do see another rally jump,I'm watching for the target at the 50ma around 12.40 area as the resistance to be careful at.
looking on the downward side of patterns, IF we continue to see stubborn resistance around 11 dollars ,then the bleed down rollover pattern could see steps falling to target back to 10 dollars without much trouble. . Maybe AVXL is going to follow whatever the stock market does in the coming days. but today started with the market looking a bit upward ,and AVXL was looking downward. so who knows. I have small targets for trading shares around the 50ma waiting, and I have stink bids for Crash targets waiting down around 3 dollars.
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and Oops, in the time it took me to write this, AVXL plunges down to those lower targets I was talking about.
So now, I'm seeing this as a pullback target hit at 10.50 area, that makes the Rally wave from 9.30 bottom to 11.30 a finished wave. No higher push to test 12 area for that wave. The pullback is already in the retrace target zone, and could be called the wave 2, so IF when thi retrace ends, the next rally has a big expectation on the elliott wave pattern, looking to target the 13 dollar area. and the wave 5 would be looking at 14.25 area. But first the pullback needs to hold strong around 10.30 (10.10-10.30-10.50 area)
Thats the targets I'm looking at in the current track patterns. Ay continued bleed down below 10 dollars disolves any current rally pattern.
