Anavex Life Sciences Corp (AVXL)

[123tom]

you did good Fireman...

well done catching those prices.

I own too much as well now, and I have to actively look for the 'best resistance targets' to trim ,and manage the funds,keep it all in better balance.

what a giant rollercoaster ride !?!

I wasn't watching it plunge today,but I was just intuitive enough last night,to place one crazy low stink bid around the 4 dollar target zone. so I got some more there.

So the "bottom" is now "3.63"




I like the pivots at 3.85/3.77 as more technical markers for the current wave structure. The first resistance peak from the bounce hits 4.31.... a key target point on the chart now.
Someday this 4.30 area (4.30-4.40-4.50) will need to hold as critical support....

I know the baby bios always make these chart shattering moves. the gold and silver miners do it as well.

Many times these outrageous shattering moves just cant be seen on the technical chart,as to how far down (or up) they will go.
The technical target for the Fibonacci pattern I was watching was 4 dollars. so it was a Big extra slam down to get it to 3.63,in my view.

This support station /base at 3.77 area (3.80) has a rally partner at 5.77 , and when the time comes, I wouldn't be surprised to see big resistance cap it there,as a danger zone, when the time comes. actually resistance danger starts way lower at 5.40 and 5.00 (4.95-5.15) and the current resistance might show up at 4.50-4.80 before it even looks like a good rally to 5 dollars, might get stopped at 4.70 in the next moves. This shattered pattern has a lot of repair work to do along the way.
...and now, the weekly 50ma around 4.60 and the daily 200ma around 4.85 could become reversal hammer targets.... and from there the support needs to reestablish that 4.30-4.40 4.50 area as a strong base, Just like it did last time,months ago. Today's shattering event,looks like a Great Reset for AVXL.
stay tuned.