Replies to post #5425 on 123Tom's TA study group

[scottsmith]

The terrible fundamentals of avxl have been and will continue to trump any charting you attempt.

[123tom]

Pivot point target 1.87 hit for AVXL today

my stink bids at 1.85/1.88 got filled ok.
This is it for me/no more buying,and alot to trim when the rally ever happens./click here 5 minute chart

Now I basically need to see a double from here to the target zone 3.50-4.00 area to achieve damage control.

[123tom]

I suppose Bottom zones always look ugly

AVXL at 1.85 in a plunge, bounces back above 2.00 and probably will retest 2 dollars as a pullback target. and the new road map looks something like this for any math rally to manage to recover 2.90 area, and retrace to hold the shoulder zone around 2.35-2.50 area, and AVXL would develop a recovery pattern from a Major Bottom zone.
Its just a road map.
Careful and skillful chart price watching,in recent days like we've done could see that this 2.06 "bottom" was strange looking. I said that last week, the target should be 2 dollars and "Hey ! what about that pivot point at 1.87" , and the latest indicators around resistance at 2.25/ 2.20 area were still looking "downward" and all this was based only on the chart math not any "news or newsy info PR" stuff. just measuring price action patterns.
and today the math algos did their thing, based on 'newsy stuff' or wall street trading computers triggering their actions, and down goes the price to the target they had in mind all along. Maybe we get a good bounce now that reaches the 2.50 area and the key 50ma. but recovery will need even better rally that targets 3 dollars, 2.90 area, and the shoulder support zones down at 2.45/2.50, even 2.25 can be turned from resistance shoulders, which they are currently now, into support shoulders IF we get a good rally to at least 2.70 area.
Theres still a lot of damage to repair in this chart picture.
Is this finally the "Bottom" at 1.85? chart view here