Anavex Life Sciences Corp (AVXL)

[123tom]

I think I'm seeing 4 dollar area as the basic retrace...



3.30 Bounced. Not bad. a fair bounce so far.... into first resistance at 3.65 area. IF this 3.30 would prove a bottom...then we get the Fib retrace to center around the 4.05 area. 4.20 is the high side, 3.90 is the low end. the 3.80 area is key like its been for some time. but so is 4 dollars. Todays bounce so far...simple price action might take it back to retest 3.45 area? maybe? or... tomorrow, lets see if there is a plunge at the open...how far ,maybe 30 or 40 cents...to test 3.30 again...no, I think a bullish bounce. this is a double bottom bounce at 3.30 ,so it ought to show some strength like it has so far...maybe a plunge tomorrow to test 3.45.IF we see another bounce rally tomorrow to test the 4 dollar zone ,would you sell some there to end the week? that would be the place to get out if a trader wanted to . but its a tough call now, seeing this 3.30 bounce like this. makes it look like a solid bottom for 3.30 with a bounce like this. a fair show of strength. The gamers would have to be really clever to give it this force today,only to slam it down lower tomorrow? that would be skillful fakery. I guess its possible.
What would they want the weekly candle to look like after tomorrow.

It kind of sucks having to play these waves up and down. I really dont want to sell any at 4 dollars. but... thats the technical game. riding the waves. its alot of work sometimes.

In this downwave,from 4.80 to 3.30,....the bounces have all been around 35-40 cents, then,it bleeds down, and then plunges lower. each time,the same thing. Now we already have the 35-40 cent bounce here...will it bleed down the rest of the day ,and then tomorrow ...Plunge lower, or at least retest the 3.30 again.