Anavex Life Sciences Corp (AVXL)

[123tom]

XBI was made to rally in 2017..

generated in the last 2 months. to overcome the resistance shoulder at 80 area.
maybe its money that left the bond market and went into biotech and the indexes. target zone looks like 110 area. This was a big change from the 2016-2017 pattern, that peaked at 90 (in 2015) and made a big collapse to 43. the long slow climb back into the resistance zone that took all of 2016 and half 2017 this time, hit the shoulder zone,and started to roll over.... but held in the summer and climbed into this breakout.in these last few months was made to hold support and rallied thru the resistance shoulder to retest the 90 peak.



If I had to guess, what XBI does now, would be to slide sideways around 90-80 area for the rest of the year, so if it does that, I don't know if it would bring momentum to AVXL or not. AVXL seems to be its own unique animal. I wouldn't care about whether its correlated to the sector index or not.