the bias for direction does seem teetering on the edge here. bleeding down this week, like previous weeks, and like you said, what would draw in the buyers now,with price at a topping zone level,a resistance shoulder level, after making a good strong rally recovery from the 2.43/2.76 Bottoms, we see AVXL peak at 6.64....was that rally in some part,and how much of it, was generated by anticipated news....which now looks like its fizzling out...exactly at the wrong time for a continued rally. the pressure starts to look downward,and this stock has a bad reputation of getting Hammered when the short attacks commence. The short attackers could be waiting to jump all over this next week.
When you look at the whole big rally wave from 2.43 to 6.64....the basic Fibonacci 50% retrace level is back down at the 4.50 area. there is a base in that zone that established itself this year, 4.00-4.40 base...so that zone has some strength to it....and it would not be abnormal to see this completed rally wave (2.43-6.64) start to get taken back down, first to continue bleeding down to target the 5.00 base. AVXL will show whether it has secured a stronghold there ,by holding that support level, maybe the 4.90 area to 5.10 area.... that will be a good test of the 'new' level ,to see AVXL no longer be a 3 dollar bottom groveler, but to stay up in the big leagues, at 5 dollars. In any case, when folks have been expecting this 6 dollar zone rally to 7 and 8....which is the bullish wave target....they will be shocked to see the short attackers slam it back down to 5 dollars and maybe all the way to 4.50-4.40 area, and I fully expect the powers controlling price will take it wherever they intend to go next. At this point in time, it appears a false hope to anticipate a greater rally now (unless the powers intend to do it) and the cautious view is turning toward taking care not to buy too much here at 5.60 if the short attackers have other ideas. IF we were still seeing a strong bullish rally surging upward, price would not be zig zagging up and down like it has...we would be seeing that big climbing rally surge like we expected. and at this point, as another week closes, and the conferences are happening ,and the momentum seems nowhere to be found, this becomes the perfect set up for the next smash down. the 5 dollar base would become an automatic target and the real bargain might be closer to 4.80/4.70 before the game is finished. I remember when the rally peaked at 6.64....I looked at the chart and this intuitive thought popped in saying...Now the Powers will take this all the way back down to 4.64. Like the way they always screw AVXL back down after every big rally.
It clearly looks this week like there is no momentum generating any new buying surges, and instead we see steady capping and bleeding down. It would now be a total clever misdirection trick for the Powers to suddenly blast AVXL up strong tomorrow (Friday) or monday,and give us that 2 dollar rally we've been expecting, completely fooling me now, as I watched it bleed down this week, and as I now start to rethink whether we get a rally or whether we get a slam down in the next few weeks. This is one of those sensitive moments in watching price waves, to start seeing the warning signs, pointing to a downwave not an upwave. changing from the rally pattern to start developing a downwave pullback pattern. That grand downwave, as I said, in the larger pattern, is the pullback from the 6.64 top,and the zone is way down at the 4.50 area.
News 
Market Data 
Discover 
