Anavex Life Sciences Corp (AVXL)

[ospreyeye]

$AVXL Chart #2 from yesterday – BULLISH KICKING reversal pattern is forming today – EMA 8 @ 5.57 is the key level to break – a close above puts the middle Bollinger Band @ 8.13 on deck – when the middle BB turns into support a new up trend can begin – huge volume spike – the MACD Line has leveled – Fast STO bull cross & at 21.66 has juice to run – RSI @ 43.71 – keep an eye out for RSI above 50 – that would be bullish –

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2110

Definition

This pattern consists firstly of a black Marubozu and then a white Marubozu. After the black Marubozu, the market opens above the prior session’s opening, forming a gap between the two candlesticks.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. On the first day a black Marubozu (or a black candlestick) is observed.
3. Then we see a white Marubozu (or a white candlestick) on the second day.
4. The second day opens higher with a body gap.