I like the series of higher lows a lot....
its the best thing about the AVXL chart.
Those higher lows, as targets might start to be tested now, IF we don't get any good rally that retests the 6.64 top. IF we get a capping continue at 6.00-6.30....even if the capping starts happening at 5.85-5.95 area,that kind of capping is a bearish clue,that the powers are bleeding it down and they could take it to the lower target steps like the have done this week,including today at 5.65. I'm watching the overhead resistance as the clue...When this bleeding pullback started at 6.30 it found a support at 5.80 thatd a 50 cent drop. the next 50 cent drop could be 5.90 to 5.40 target. this one at 5.65 is a key target,a pivot point target, and it could hold here, but whatever support bottom gets crafted to hold....there should be a big rally bounce start from there, it should look magical, as if some big wall street switch got flipped. and Up goes AVXL. we aren't seeing any jump start so far this week including today at this 5.65 step. That tells me to watch out now at the overhead resistance (5.80-5.95 area, as a danger zone for the next plunging drop to get triggered.
Bollinger bands are showing a target zone at the 5.30/5.40 area along with the key moving average there as well.
But all the stair steps along the way are magnetized as targets that could be hit and stick as a bottom. It just depends on which target the powers plan to hit. today was the 5.65, because they weren't happy to stop at the 5.80 /5.75
I guess this is how the 'bleeding down' game works.
IF they can do it, they could bleed this down like this all the way back to 5 dollars.
I think a lot of folks would yell at me for saying such a blasphemous thing, but from a purely technical chart analysis, it could be as easy as 1...2......3
just like they've done so far. 10 cents ,20 cents, up and down, like stair steps. and to see how it happens right along the mathematic lines, suggests its all just computer trading and manipulation. and at some point ,some target , the genius supercomputers will spit out the data that tells the powers "this is the bottom now" time to start surging a rally,and create the next wave pattern. There are several target steps along the way to the chosen Bottom. today was a key step, as was the 5.80 the other day. but there are more in the picture. I don't know if the next ones down will get hit tomorrow or not. we could have a small bounce tomorrow and then next week they could bleed some more. Its all a rigged controlled game, where wall street makes tons of money riding this roller coaster, because they are creating it as they go. This is the basic premise I'm considering as I watch price action. and as I do the math .
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