As I was mentioning,
trying to see what the downwave is doing, and so far, each step of the way, support has failed. at the key targets like 4.30, then 4.00 then now it hits the 3.80 target. These are the key technical support steps for the "bullish rally pattern" that needs to hold. Below these target supports, becomes a break down. and erases the rally pattern.
will 3.80 support hold. I dont know. Its a big target here at 3.80. but just below is the old pivot peak at 3.70. then 3.40 area. I dont know where the big money players,MMs , whoever controls the price action, I dont know where their Intended target is going to be. But after watching such a big rally, that looks like a break through rally, a trend changing rally, from 2.30 to 6.30. even the secondary peak at 6.00 was good. To see now that such bullish momentum can evaporate like this, once again, is the market sending a message.... that AVXL has NOT made any trend change. Its looking now like the same old bleeding down slam down of all rallies that we've suffered with the last 4 years. Is that whats happening? The same old AVXL game? or is it because of the market indexes falling down?
so its oversold now at 3.80? that might be possible.
I think the market will rebound in March. and this big sell off will recover again, like it has since Trump was elected . The fake news virus fear is a ploy that will fizzle out, and the market will rebound. Maybe AVXL will rebound with it.
I have faith in Anavex science to succeed. but watching this same kind of collapse like we've had for years, is getting a little frustrating to watch.
If 3.80msupport breaks down, I'll probably wait until it retest 3.40 again. and then I'll be selling some trading shares at 4.40-5.00 and the technical game continues.
Right now, the intraday price action has set up the chance for a support step at 3.93 to Hold and bounce again, in a recovery rally pattern.
Bottoming at 3.80, bouncing 30 cents to 4.10, pulling back half way to Hold at 3.95
would create the possible pattern if we get a good bounce tomorrow to target 4.40 area. something to hope for tomorrow.
BUT as I was writing this, 50K shares were dumped right there in the last 5 minutes,and down it went to 3.80 again.
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