Anavex Life Sciences Corp (AVXL)

[123tom]

sounds plausible....

I don't know how all the mechanisms work with the MM's doing that , to aquire shares for institutions, maybe they do these things,maybe today's low at 5.60 will be a good bottom base. I only know the technical mathematics in the chart patterns.

We had a rally that peaked at 6.64,from a bottom at 2.43,and the secondary bottom at 2.76. we had a giant collapsing pullback from the 6.64 top to 4.95 that held there.
It rallied to 6.14 and then came all the way back to 5.17, rallied to 6.15 then fell to 5.50 then rallied to 6.30 and has been bled down to 5.60 so far.

There is a support zone now looking like 5.60/5.50.It might hold or it might not. there are target steps lower down.
But there is also a resistance zone overhead, from 5.80-6.30.I call this a battle zone, from 5.60-6.30, and centered around 5.80-6.10
and the balance line around 5.95.

and I want to just sit back and watch the battle for the rest of the week .its a tricky area on the chart pattern.Failing like it did at 6.30 with a long nose that closed around 6.00 showed that 6.30 was not sustainable. There are previous pivot peaks at 6.30 and 6.20, the resistance shoulder zone. several steps in this area,all could become resistance failure points on the technical chart.
Saying this is not being 'negative' or bearish, or discouraged, its not emotional. its just looking at the precise math on the chart patterns.and using the Fibonacci math, and Elliott wave counting, and candlesticks, etc, support /resistance levels, etc.
IF the powers want to create a rally upon a base at 5.60, I'm sure they can do it. IF they want to create a big resistance Capping at 6 dollars, they can do it, and maybe drive the price to lower support targets ,like 5.50/5.40/5.30/5.17/5.05. maybe all the way to 4.70 and 4.50 ,I don't know how it will all play out.

But they apparently had the ability to slam it from 6.64 to 4.95. they could take it up 1 dollar and down 1 dollar a few times. I suspect they could do it again from 6 to 5 dollars next time. why wouldn't they.or maybe they cant do it. I don't know. we shall find out .