right to the target I forecasted with the Fib math nonsense a day or two earlier. The Fibonacci math is such nonsense that the price actually followed the math track precisely along the math pattern,precisely to the forecasted target. I love the Fibonacci nonsense. and I hope my chart work does help people to "see" the price action technical track patterns. It doesnt alyways hit precise bullseyes like it has done this week, but most of the time 80-90% is a good road map to examine, and thats why I draw my charts with these tools and have learned the Fibonacci language for technical pattern watching. Here's what my chart looks like now. Target down could hit these lines of support. I'd like to see 17.60 hold now, but 17.50 and 17.40 area look ok. below 17.40 starts to lose more of the rally momentum. The upward targets are looking at 18.60-70 area and the key to achieve the next bullish rally target is 19.30 area,then 20.30-20.50-20.70 area on the technical nonsense chart. A cautious bias ,which I always have is watching for resistance to cap rallies,and the 18.60-19.25 area to struggle, and if it gets to 20 area,and the S+P starts to show selling pressure along some bad global news, my caution would be to prepare for market collapse trouble, at some point, AVXL could see its last rally for a while, maybe it could be this current rally,and how high it climbs now is the guess to decide where to lighten some trading shares and raise more cash. I'm watching the 19-20-21 area for that resistance and timing. My timing could prove wrong, of course. but the TA price action has been strongly following the Fibonacci nonsense track patterns,so I'll stay the course in my analysis of what I'm seeing. The last thing I ever want to do is sell AVXL shares too soon and miss out on extra profits. But I do think this season and this month is a time for great caution. Thats why I want to post the S+P chart as well as AVXL.
If your analysis leads you to more profit with AVXL trades then I am very happy for you. I have not found pattern technicals to be that useful for my Biotech trades, especially if binary events are around a corner. I do think price support and resistance lines offer some value in setting my option strike prices (CC and short puts). I will sometimes trade a MACD divergence in larger biotech stocks, especially if I am ok with owning the stock for a while if a short put gets exercised.
News 
Market Data 
Discover 
