Thanks. smart minds think alike....
but dumb minds do too...lol
It looks like with AVXL....the powers that move the price have been spiking it up in a bigger pop, like today from 4.80 to 5.00...and then from there they slam it down and bleed it down 44 cents today. Those are big moves. usually we see maybe a 10 cent pop , then a 20 cent drop. that's a game that happens all the time. but now, the moves seem more extreme.
After today, as it looks like a selling game is ongoing, a bleeding down the scalloped steps, from 5 dollars to 4.55 so far, more bleeding down can happen if they intend to achieve it....up to now, the pattern has looked like its got a support zone holding around 4.65...but now that support has been broken. an we're looking at 4.50 support. why wont they break that down as well.... it all depends on where the Powers intend to set the bottom.and now, with the 4.65 being broken, the next major target on the fib charts is the 4.45. and below that we see the pivots I mentioned 4.35/4.30/4.25/4.21/....and it makes me have to notice now the shattering pattern could be reforming into the lower target pattern which is the 4.12 target.
I think its time to be more cautious here, and not so much bullish bias watching to see if 4.60 will hold, its not holding today, and now watching for the 4.50/4.45 to hold, its less certain. we might see a retest of 4.30/4.20 and 4.10 before this is finished.
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