Anavex Life Sciences Corp (AVXL)

[123tom]

Now AVXL might be getting somewhere.

Nice bounce today. It actually started yesterday afternoon, when that bounce held at 4.33 and late day surge took it to close at the next step higher, the 4.44 area.

This morning a small blip down that held at 4.38 and it took off from there . Then later we got a big surge thru the 4.50 and all I can ask is WHO did all the buying today and What caused the sudden interest in buying these last 2 days? It looks like a turnaround. The 50ma that held critical support at 4.23 did its job nicely...but who has been doing all the buying this week? Is this MM manipulation taking it up so they can bleed it back down again? or is this a real rally that will follow thru tomorrow or next week. That pesky 'options target' line at the 200ma looks like a (temporary?) stopping point.( 5.00)


All of this pattern of higher lows, that held critical support, first at 3.80, then 4.00, then the 50ma at 4.20/4.25 all held when they needed to.it all gives the appearance of rally strength. Now a second effort to rally toward 5 dollars happens... It was hammered down from 4.75 last time. what will it do this time? But while the pattern looks decent in these higher steps, a real and bullish rally must break thru the 5 dollar barrier and target the 5.25-5.50-5.75 area as a complete Wave 3... the complete wave 5 target zone is 7.75-8.00 in this pattern. A weaker rally would target 5.75-6.50 and get stifled again there.maybe by the MM's .




my other post about today.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135545910



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