Anavex Life Sciences Corp (AVXL)

[TrueTrades]

I don't think the charts mean much for development stage biotechs. Blue chips with known fundamentals and predictable catalysts adhere to patterns better. I tend to swing trade based on volume trends. Larger volume can make for 30 - 40¢ swings in AVXL. Light volume and maybe 20¢ can be done, but that is still great volatility compared to stocks that trade on the 100th of a penny spread all day.

123tom is very good at calling levels and they usually correspond to the 20, 30, 40¢ swings I'm talking about. He is a better peep to ask and he has a study group board.

However, since we are heading for Russell inclusion I think the price will appreciate through July due to benchmark buying. I am now plotting AVXL against the IWV (and little demon girl, as usual) and I think we will close the gap some, there.



I would call 5.50 breakout area.

GLTA
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