Anavex Life Sciences Corp (AVXL)

[123tom]

Thanks,one flew,.....

While price is putting us to sleep today, there is something to see in the price action.

In relation to the larger picture, and the swings on the daily and weekly...
It looks something like this to me...

We just saw ,in the past month or so,the latest swing downwave fall from 6.34 to 3.29.Along the way, in portions, it bounced/pivot at 4.60 area,and 3.80,on its way to 3.30. and a rally pivot popped to 5.80 for a minute and then the downwave fell to 3.30...ok... and now from That bottom, a double bottom at 3.30 (keep in mind the 3.16 "Bottom") but for now, it wants us to think this 3.30 is a good double bottom to work with .
Now we get this first Rally bounce from 3.30 to 4.30,and then the retest of 3.30 again, and now,today's peak at 3.88 call it 3.90 for easy math. ok. so thats a movement of 60 cents. Now we see a slide back 50% to test 3.60... pretty simple and boring...and it slides to 3.50 now, still kinda boring...ok.
This pullback today is not a Slam Down. its a slide down.
what it is telling me and my imagination is that this 'rally' we got so far, from 3.30 to 3.90 is not strong enough or high enough to excite the short attackers,to jump on it here below 4 dollars....they're Waiting at higher levels, as they should. If I wanted to be a short attacker,I'd be watching for the next rally to try and retest 4.30 pivot peak,and especially the key target zone around 4.60-4.90 area...That zone around 4.75,lets call it, is where the technical mathematic rally wave 'should' tire out and complete. thats where it becomes tired and vulnerable to the next attack. not here at 3.80....but yes at 4.80.
I expect to see mild resistance ere around 3.80-4.00 but gee whiz, if the shorts attack at 4 dollars like they think they have the power to drive it down to 3 dollars...well, ten there really is some short attack campaign out for blood with AVXL .
But if the game is just running more along purely technical trading price algorithms, then I wouldnt be expecting a heavy attack here in this 3.70 zone....even though this is a resistance level around the 3.70-4.10 area,it 'shouldnt' be a heavy one to deal with. The more critical Resistance zoe is at the higher stair steps starting around 4.50 and all points higher toward 5 dollars. Greater pivot resistance targets are especially strong at 5.30 area/5.50-5.60 area/5.60-6.00 very strong...right where that pivot pop at 5.80 is...That's the big Slam down zone for me.

When the time comes, I expect that will be the real attack zone for the next shorting game.
but right here today, its like lazy pastime with knitting.

Now having said that, IF we see some sudden awful plunge down from this 3.70 resistance fall down to 3 dollars....then 1) its a buy target at 3 anyway. but 2) its a little disturbing and need to know What 'caused' it.like a tweet bash from AF or a seeking alfalfa bash, or another law suit announcement, whatever it might be. This game is getting stale for those gamers right now. They need to see the price rally up into the real kill zone,around 4.75 area...and now, as time winds down toward mid February, it will become a gaming factor, how to play this mid February timing thing. Will they run the price up into it so they can bash it down on the day, like the way that game is played. ? or what will they do in this next 3 week cycle.

I think it will rally in another moderate bounce soon, to approach the bigger resistance around 4.80
It wont be sleepy time when that happens. It will be watch out time for the next attack.





One thing about that first rally bounce from 3.30 to 4.30...it would have a bullish rally target around 5.90 IF the momentum became bullish. but so far that bullish momentum has not happened.