5.30 target gets hit.
1 dollar down from the 6.30 triangle cliff.was a rollover shoulder zone.to anticipate tumbling down. The bias was looking downward.The market analysis on the weekend was warning ,was forecasting a plunge for today.
Fib resistance now centered around 5.80 (5.70-5.90) . Every 10 cent step is the staircase up and down.getting hit, pausing, bouncing and tumbling lower. But today was a market plunge and AVXL collapsed along with it.
Now, in addition to the basic 50% Fib retrace (5.75/5.95) we get to watch the key MA'S around 5.60/5.50 for resistance.
I didn't have a bid set at the 5.30 target. I'm waiting for 5.00, and now, maybe even 4.85
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