Anavex Life Sciences Corp (AVXL)

[123tom]

I was asked privately to elaborate a bit on price targets and some outlook.....

If one has studied TA charting for years then they can see the complexity of the technical charts Ive been doing, but hopefully, I can show it without too much confusion or making it messy

Sometimes its easy to get lost in all the target points ,all the data, all the lines and s/r levels, you can draw a chart using 10 tools and then it starts to look too messy to see anything.

Over the past few years of study Ive taken a liking to a few TA tools that when used in combination together, they show a picture that is both complex and clear to my eyes.
There is any number of tools that chartists can use in combination, and if you find the right ones that help your vision then most folks seem to stay with what works for them. I know a few traders I talk with who use a different tool set combination, and that works ok for them.

Sometimes, I just play the odds and make buys and sells based mostly on Technical target points, and its a judgement based on the numbers and the TA. and many times that works just fine. But my last buy did not work so well. ...
watching all the price action playing out last few weeks, I decided that the downwave last week was making a buy trigger for my technical trading on the day it fell to 5.05 and bounced..... the stair step just above that at 5.20 , 8 minutes earlier, was where I pulled the trigger and bought a few more shares at 5.20.

It represented the shares I wanted at the 5 dollar zone.
My next buy after that was the 3.77 bottom....oops....former bottom... ....and then after that I planned on selling some shares in the 5.60-6.00 area when price bounced there and Fails to continue higher.........BUT what happened,was a single "blink and you miss it" pop to 5.80 at the open monday.....and I wasnt quick enough to make the decision.as this latest downwave plunge really didnt give us much of any chance.

Now it looks like we are watching this shorting attack play out once again, and all I can do is decide what price I want to buy more. the 3.77 point was ok. as was 3.50 today....and anywhere in between...
But I dont think anyone can proclaim that this 3.50 Bottom is the bottom. just as last weeks 3.77 looked ok.

So here's another Fibonacci chart pictures I look at and they show the mathematic targets in the zone from 2.77 to 3.77. they show the topping zone and Ichimoku cloud area that runs from 5.50 area to 8 dollars. You can see the rolling over shape of the channel. There are many places from where to begin drawing the Fib Arc, and there is an art to it, to find the way the tools frame the price points. I'm trying to sharpen my vision by using the tools in this way.

Its both educated guesswork,and Intuitive feeling,using alot of complex data that sees as many points as possible. That technical buy at 5.20 ,I call a mistake now. and I want to fix that and improve some more.

At any point now ,in this 'bottom zone' price can hold this support low, or the last support low, or the next support low, any of them could hold,in this bottom zone that I'm seeing as 2.80-3.80...a big Bottom Zone.

I expect I will buy more at some point in this zone. and I'll need to trim excess shares in the next Resistance topping target zone when the time comes.




Theres a low pivot point around 2.64 now. in case it means anything.