Anavex Life Sciences Corp (AVXL)

[123tom]

@Android, ...yes,of course real news changes the technical picture...

so I have to always say that the chart picture I'm looking at is strictly technical price action, and presumes the continued technical manipulation and mathematics,the programmed algos, HFT trading and all the wall street games that happen in the technical patterns.
As soon as great news comes...many will sell that news. If the news came tomorrow , wouldnt we see a big pop from 4.40 to 5.40 or even 6.40 ? maybe?

But until there is a price movement that reflects the news pop, then what we continue to see is nothing but technical price action and the manipulated crafting of the pattern.
If the technical tools I'm using, simple Fibonacci tools ,and counting Elliott waves,are somehow showing an accurate playing field,then maybe it means the wall street trading programs are running on those programs/algorithms,programmed in basic ways to reach the mathematic targets, key moving averages, etc...
Ive been watching price action mostly thru the lens of this tool set for a few years now, and it seems to work ok.... so I keep using these tools to plot the chart targets.
IF these days and weeks continue to run on the mathematic technical patterns like they have been, then the current price action shows these certain target zones, which Ive been describing. should continue to get reached as targets.

The basic Fibonacci formulas and tools are what I'm using to find these target points, so I said the current price action shows mathematic fibonacci targets now around the 4.75/4.80 area if we see a break above the 4.50 capping zone.
Its possible ,with painstaking detail thoroughness to calculate all the targets in a mathematic pattern, as soon as you get the first wave completion. That first wave completed when the Bottom at 3.87 peaked at 4.59 several days ago...that wave produces the target pullback area around 4.20-4.35 and thats what we've seen in recent days. Now, the current intraday price action seemed to be pointing at a target around 4.75/4.80
and the math details can all be examined,and more detailed study of all the key points on the chart can show other targets on other levels, weekly chart, etc... so thats why I see the 4.80 area as a key target now,but beyond that includes targets from 4.80 to 6.80 and I saw something today that even shows the 7.75 target zone could come into play some day. Interesting that the 7.75 point was reached in that single premarket blast ,when the Australia stories became good promo.

But the thought you express, what good would it do for shorts to try and attack at the 5 dollar zone...I wouldnt be so interested in that as a starting point either,if I was shorting...Maybe the technical point ,for that 5 dollar zone (4.80-5.20) is that its a technical resistance area where a weak rally could stall . or fake out games could whipsaw and fleece buyers who see price pop from 5.10 to 5.25 and they rush into buying ,chase after it at 5.30 and then see a harsh whipsaw slap them down at 5.40 ,and retrace all the way back to 4.50 again...I dont know what wall street games would get played when that danger zone gets reached. I can only say this is the danger zone on my technical charts. Maybe good clue is just to watch what price starts doing when it reached the 4.80 area and see how it plays around that resistance from 4.80-5.00-5.20 area....since most all the trading is done by computer systems,in a rigged game,who knows what the computers and their programs are set to do if they can make a good days pay with a few well orchestrated decisions by a supercomputer.
It wouldn't be me selling shares at 5.20,only to buy them back at 4.60. But I might sell some at 5.60 if price runs up there, and no news comes when it was anticipated, and the selling starts up again.
Its an interesting thing to analyze, the relationship between technical price action/rigged manipulation....alongside the fundamental news and media publicity ,and news,or "rumors of news" disappointing news, or misunderstood news, or tweet bash fraud games, versus real good developments.... you folks all study the fundamentals,and have a good understanding of the science...but theres so many folks here trying to get clues as to when the good news will finally be released.... everyone has a different date in mind, a different expectation, its all guessing,just as this technical charting is mathematical guesswork too.
All I can do is draw the chart using the handful of tools that look interesting to me. and whether it becomes right or off the mark...the 5 dollar area is a magnetic target resistance zone now. as are the stair steps all the way to 6.50. you can plot stair steps every 10 cents from 4.60 to 6.60,and every one of them is a key point to watch at some moment.
I know that might sound lame, its important to be able to focus in on a clear target or else whats the point of doing charting.
Sometimes, its looking just at the next target being shown. Todays price action, (from the last few days) is currently showing the target points around 4.80.IF we see price run up to 4.80 and magically stop there and bounce down... I will be happy to know that the technical stuff I'm looking at is at least on track...and confirms that what I'm looking at,and the way I'm finding it on the chart,seems to be working in some way.

Beyond that I have no idea what the next Games the wall street wizards will play against AVXL ,how they will do it, or precisely when they will signal to AF its time to do some more tweet bashing.or the MM big money players,and how they are playing all this.
In your head you can do the simple math for Fibonacci retrace targets. From the 6.30 topping area to the 3.80 pivot low area (3.87) the Fibonacci retrace middle zone is around 5.05 (4.90-5.25) Using these technical tools means you Have to watch that target zone carefully when the time comes.