and its that kind of comment that causes me to stay up till 3am doing Charts.....!?!...LOL.... in case I missed something. or I need to rethink how that might happen and what that chart would look like. I'm not saying that TA charts are the holy grail of trading...I know fundamental developments will Shatter the whole TA chart at those critical events. Just like when the FDA denies approval....this happens....
or when the pumped up/hyper bubble frothing manipulated momentum Pump and dump game gets played with biotechs in a "run up to "news"....this happens...
The bizarre corrupt thing about the AVXL plunge is that it wasnt from FDA rejection, it was from Adam F and the short attack goon squad on wall street and the big money gamers, etc .... but the net result looks about the same on a chart doesnt it.
Its a corrupt game this rigged casino stock market and the idea of 'Buy and Hold' or hang on for the ride to 12 dollars, is risky at best. I'm thinking the better way is to trade in and out riding the waves if one knows how. ...and this chart of AVXL is showing the most prominent feature now,is the weekly 20ma at 6.25 area along with the Resistance shoulder zone in the 6.50 area and then 8 dollar area. Thats the cliff edge waiting for Wiley Coyote to fall over. In a Technical Chart . Maybe the fundamental news, especially partner news. will light the next rally fire. and the Bubble jump to 6.25 that I'm expecting will be instead a Blast and run to 9 dollars and then 12, just as you say, and yes, pull back to 8 dollars, and we will all be much richer.
That wont happen as a technical trading move. it would be a fundamental trigger. and I certainly dont want to trim shares Too Soon. at 5.90 or 6.60 . But neither do I want to see this "news" get gamed like it did last time,rendered negative, and the short attack takes it down again from that 6 dollar pop all the way back to 3.40 again. Thats the game and the guesswork.
The Ichimoku cloud shows the Danger zone pretty well too.
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