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Citrati

01/22/24 1:30 PM

#11227 RE: kevindenver #11226

Good question. My opinion has more to do with economic conditions, world events and the broader markets. Between debt, inflation, manipulated economic data etc there are consequences coming that are inescapable. The current markets have very little breadth. Increases come from a very few mega corporations. Anything the government has oversight over is a joke. FDA, SEC regulations and enforcement etc etc. The markets are at an all time high yet, from a classic economic analysis, weaknesses are so deep underneath as to be able to consider that what is occurring as irrational/unsustainable

Given the above, for AVXL to be less influenced by the broader market it needs to develop more so that it is less influenced by the coming and current volatility. Standing on its own it needs to find LT support levels. Also, I think most funds have finished or are finishing adjusting for the coming year. We all realize the big boys accumulate or distribute ahead of retail. It you look at the last quarter, was there more accumulation or distribution?

I want to see some chart answers to whether this is real support or where sustainable support is is going to be. For my benefit, LOL, I want to 6.27 to hold all year as support. That would be the top of the longest/strongest VbP bar on my previously posted linked daily chart. Just my individual preference.