Anavex Life Sciences Corp (AVXL)

[jimmy667]

Longs won! Healthy consolidation held the ascending pennant pattern. This is the strongest most reliable bullish pattern in TA. You might not feel we won today but we won a very important battle. Please let us dispense with A$K slap, bidwack, hoping the company throws a bone, MM, big boys manipulation. This stock is no different than any other micro cap low float biotech, you might want to think it is special or being picked upon more than others but it is not. I happen to feel after extensive and ongoing Fundamental Analysis that it is special for the science AND an extremely underestimated size of the potential market for the commercially developed drugs.
Tom, I appreciate your pretty charts and you seem to know a lot about charting and the various tools. And by no means am I being critical. As you say what you say is a guess. Your charts and most TA chartists target audience are interday traders. I do not know what TA means or what is significant for interday trading because that is not what I do, only in extreme volatility as a defensive measure. But it is very useful for me to know when to enter, exit or be over or underexposed to the risk. Simplicity is sometimes best because really the only variables are price and volume. Most other tools are just a way to graphically depict the interplay between those two variables. I am sure you do and I hope everyone understands charts do not predict anything. They are not forward looking radar. What they can do is give one an insight to the market sentiment, inclinations of market participants most importantly to equilibrium points between price/demand (pivot points) support and resistance levels. These all must be taken in the context of the current state of company developments and overall market conditions. I am sure I am not telling you anything in this regard, but I just want everyone who is a long investor to realize we held the upward trend during a day when the hot money momentum traders were off chasing oil stocks. The most important function of TA is to delineate the trend. AVXL is in a solid uptrend. As well we should be because we are rapidly developing and hitting on all cylinders. All we did today was reinforce the strength of the uptrend by consolidating recent advances in price within the confines of the uptrend channel. Smart investors who have already been watching the action and have done there DD are going to see this price point where we ended today as very attractive for an initial position or to add. We are close to the pinnacle of the of the ascending pennant, the trend is UP and the company is performing well. It will break out of this pattern up or down. My money is on a break to the upside. I think * $8 will be broken soon. Just my humble opinion. I think the AF stooge might bash tomorrow in his weekly biotech scumbag which might present a good buying opportunity. Day traders might want to focus on interday charts, but LONG Investors would be better served by following the recent trends on the daily and weekly charts.
The ascending pennant I speak of is defined by the 11-18-15 open @$4.10 to today's close @6.86 Flat top is the 50d MA @$7.56 or the thrice tested resistance @$8. See Chart. Focus people! In words of CBD Patience and Persistence AND SCIENCE!

http://stockcharts.com/freecharts/gallery.html?s=avxl