Do you think the market will be volatile tomorrow?
because of the inauguration ?
AVXL made a meaningful pop today...
hit the resistance point at 4.40 and got hammered down from there. looks like the same old game ongoing...but its always a hopeful start when it makes a move. just depends on follow thru now.
But the pattern hasn't changed yet. I pity the sheeple traders who buy the 'topside breakouts' they got fleeced again today. This is why I Never buy top side breakouts. Above the 200ma resistance zone 4.20-4.30 ,what looks like a breakout zone.... is big steps of resistance ,every 10 cents from 4.40 to 5 dollars. every step of the way is a resistance trigger point, like the 4.40 today... any one of them could get hammered down again,in my view.
but I'm really trying not to sell too soon.... I place trades in the docket to sell some, and then I remove them the next day if price action looks hopeful... I have to imagine that when price runs up to hit 5 dollars a lot of traders will sell there. and it would be a good trade to make if I could be sure the pullback would fall again to retest 4 dollars to buy more again.... but its always tricky to anticipate these things.
weekly chart
daily chart ...look at that failure after the pop to hit 4.40 a total slam down.
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