Replies to post #4122 on 123Tom's TA study group

[123tom]

another view of AVXL chart ...



The rally broke down at the 5.80/5.90 area and plunged to stop at 5.10

the 5.10 bounced into the resistance zone and stopped at 5.74.

The 5.74 retraced to the 5.20 target (so far) and tries to bounce,weakly,today, staying below 5.50,so far, and the Danger zone now waits at 5.50-5.65 area for another bleeding down/plunging down, and retesting the 5 dollar Bottom zone again.

I say the bounce was weak ,today, even though it looks like a nice spike candle...it was a deep plunge, and broke down below the 5.50 support, the chart is a bearish looking mess now, and needs much more repair than one spikey candle that looks like a bounce is solid. I need to see more recovery before it starts looking ok again.
This is the Range pattern, the middle zone 5.70-6.10 is waiting as a Resistance zone to overcome, but resistance now is strong also at the 5.45-5.65 wall of resistance, that Used to be....support, and Now Is....Resistance.

In this Failed rally pattern, that is testing the bottom zones now, the resistance at 5.60-5.90 becomes a technical "sell" zone in my view. for the trading shares that I had previously bought at this 5.80 area, I need to sell and get the cash back,and watch to see if the pullback falls again to retest lower targets, buying again at 5.30 instead of 5.80 is an improvement. buying at 5 dollar bottom zone is better still, but the shares I bought at 5.90/5.80/5.70 and even 5.60 ALL act as liabilities now in the trading game. because in this pattern, with the force of manipulation doing what its doing, the odds favor more bleeding and these manipulation games, I think traders will be Lucky now, to see any bounce rally back to reach 5.80 area, as a chance to get th cash back. It will take a major change in the current AVXL news cycle, waiting for the next news, while that happens, we see the MM's manipulating the crap out of the price, and the Bottom of the Abyss is that 4.50/4.70/4.90 area. What are the odds we might see more collapse to bleed down to those targets .better than 50/50 in my view. Unless we get great game changing news before they can achieve the next collapse.

whats the time frame for game changing news? because next week or the week after could see the Abyss Bottoms achieved.

Before That collapse is achieved, we might have one chance to see a bounce reach the 5.75 area again. IF that happens, THATS a sell target to regain the cash for me. I need to unload about 1900 shares at 5.75 and break even on a Failed Rally trade.
Buying shares down here at 5.20 or lower is fine...but repair work is needed by traders who thought we were getting a rally, and bought a bunch at 5.80 a month ago. I hate having to do repair work like this. but its necessary to play the technical odds and fix what turned out to be mistakes. because of the games and manipulation we get screwed by.