Anavex Life Sciences Corp (AVXL)

[jimmy667]

Confirmed Bullish Harami twins @ Pinnacle Ascending Triangle. Darn your good Etradeedge. Strongest bullish traditional TA pattern of ascending triangle is supported by confirmed Japanese candle Harami pattern which is now twin Harami near apex of ascending triangle. The Haramis should indicate the tests the eights tomorrow. This is more of what will happen next day indicator as are all Japanese candles. The ascending triangle is an intermediate trend indicator and much more powerful. Need two things for confirmation of the ascending triangle victory. Strong clean break of 8ish flat top on good volume and should ideally start at closer to the lower end of the channel and push through decisively like a WolfWayne Ranger Battalion. Most importantly should happen on no news or PR. This will be a very bullish confirmation and as you say should lead to new trading range in the $9s.
It will be interesting to see how this technical action stacks against defensive forces due to the open interest in $7.50 call options. Some traders want higher than $7.50 some want lower depending if they bought or sold the $7.50 calls. Expect increased volatility.
I will be buying because my intuition tells me the professional shorts hedged by buying $7.50 calls when they were cheap capitalizing on demoralized longs who may have sold them the $7.50 calls when they thought the stock was injured a few weeks ago and did not expect such a strong rebound.
It is only supposition but do not be surprised if we have a tall white candle day. 3 million shares held short, one would assume if they are professional traders they hedged by buying call options. Why not cover go long with proceeds and blow up the price and collect on the $7.50 calls. Get your stink buys on because action should be fast and furious.