Tuesday, December 15, 2015

AVXL Chart - 12/15/15

AVXL has been one of the most volatile stocks in the market lately. Currently, the stock seems to be forming a rising wedge, which is (unfortunately for you longs) a bearish sign. Rising wedges are usually followed by a break to the downside. Since AVXL has been swinging wildly, I would predict a drop to the $5-$5.50 level from here. If the wedge does break upwards, traders could see a quick pop and fade to the $8.50-$9 level. The exciting part is that we get to find out soon enough!