I was watching to see today
if we might get an afternoon recovery. But instead, we got a further sell down. Now looking at target support 9.80-10.00-10.30 area) if it doesnt hold now at 10.40
Disappointing. The support zone I was wanting to see hold, for bullish rally pattern, was around 10.60-10.80 area. That broke down today. So the rally is getting erased, as so often happens. AVXL continues to act like a trading stock. in a Range from 7 to 13. 8 to 13, 8 to 12 and back down again. My targets to sell some trading shares are waiting at 12.00 13 area. and now, I'm starting to look at range bottom targets again. Maybe 9.50 ? and 9.00
area and down into the 8's.. It wasnt a bad trade rally from 8 to 11.50 for those who played it. Now we have the 200ma around 10.20 and the 50 ma around 9.75 to watch. Do you think it will hold? I'd rather trust the Range Pattern and wait for a return to the bottom at 9.00-8.00 area. for a rinse and repeat. Current bias...neutral . watching the 200/50 ma's now, and will buy a few trading shares if it reaches 8.70 or lower
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