Anavex Life Sciences Corp (AVXL)

[jimmy667]

AVXL seems to be in an upward channel on daily charts. If one assumes that much of the intra-day volatility is driven by day-traders then it would be safe to assume that there would be end of day selloffs especially on a Friday. IF day-traders are the ones providing liquidity then one could assume that they are out of shares to sell as they would have exited on Friday therefore may be net buyers in the morning at the low end of the recent channel Bo Band.
Xena I have commented in the past that I think you use technical analysis forensically, what is your feeling on the extent of the intra-day volatility attributable to day-trading? Since Feb 11 I feel that the stock has traded quasi-normally (though manipulated as many others)except for a plethora of day-traders. It seems AVXL has become a favorite vehicle of day traders, witness the appearances of Clay Trader who has a following among day-traders and the "round trip" patterns of intra-day price action and relatively low volume. ( as opposed to abnormally high volumes during short attacks)
Does not really matter to me as I do not sell but make periodic buys to accumulate for a long term investment. I do not try to "time the market" but I try to get the best price on a day I am adding. Therefore if the intra-day price action is driven to some extent by day-traders end of day purchases near the bottom of the bo bands might be the time to add on any given day.