Will the Jefferies Conference turn out to have been a bad idea? Maybe so if Dr Missling does not have some positive catalyst soon. If not maybe he should have waited until closer in time to when Anavex would start the trials or have data/developments to release. It seems there has been no boost yet. However, more are familiar with the play once AVXL does release development progress.
Does anyone else feel like the last few days have been as a root canal without anaesthesia?
On the other hand, we are still trading in, as Sokol's chart shows, a channel. Hoping that it stays within this channel because AVXL MIGHT have better chances of attracting new money than if it fails here and looks like the relative stability of channel is no longer providing some reassurances against a sudden or prolonged drop. If I had the dry powder I might be trying to buy here at the bottom of the channel and would hold off buying below the channel until a confirmed reversal or re-entry into the old channel. In fact, I believe the bias would be to a further drop if closes significantly below the channel. Lately, it seems Friday's have provided some lift into the close, possibly shorts not wanting to hold short over the weekend for fear of a Monday PR.
I see the chart a little different than Sokol's but in effect the same.
I see a flat sideways channel, lower being @5.50-5.60 and top @ $6.14-$6.29. I would not be inclined to try to buy lower than the bottom of the channel but might lighten up to mitigate risk. Without news of a significant nature, I would also be inclined to lighten up over the top of the channel as well. Not trying to give advice or suggest anything because everyone trades for a different reason. My trading is solely done to mitigate risk. In my humble estimation, at this point, it MIGHT be riskier at least in the short term to buy at $5.40 or lower than it would be at $5.60 or right here after a late day show of strength in an otherwise dismal day. Because it MIGHT mean that the 'Ticker' AVXL would then be back trading in the old lower range. But I am glad to know that some see it otherwise and would stand in there to buy lower.
Good Luck to All Longs.
