There is no confirmed bottom in place. Quadruple bottom should be broken down into the 2.40 - 2.70 200DMA zone on a washout, which should be a bottom. A fool (not you) and his money are soon parted...........
will we get a pop and drop at the open tomomorrow?
All week, the same pattern has played out. A plunge at the open,a bleeding down in the afternoon, and a plunge at the next open. Today(thursday) was a little different in that after it plunged at the open...it rallied ok, it did not bleed down in the afternoon...(thats something to cheer about...) and ended the day a good bounce off the 3.30 'bottom'. But tricks are tricks, and I wonder if the next trick the gamers might play is to pop it and whipsaw/drop it back down at the open, like what happens many times. this time, to trigger a sell off,an effort to retest the bottom again. A bullish ,more hopeful price action would see a support holding around 3.45,and not let it fall to 3.30
An even better bullish price action would see another rally keep going to test 4 dollars and hold above 3.80 to end the week. There is resistance overhead above 3.65. this would be the perfect place for that open pop and slam down drop.and the week ends with AVXL closer to the bottom .
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