Anavex Life Sciences Corp (AVXL)

[123tom]

do you want positive bullish hopes or the truth

the chart picture is not looking bullish right now to my eyes. its looking more bearish.
Capped and controlled to stay below 6 dollars,now resistance starts around 5.80. pressure continues to test the 5.60 support level. maybe the powers intend to cap it there as well and allow it to fall no lower than this 5.60-5.50 level. I don't know what their plan is. other than what price action appears to be doing now, clearly being capped below 6 dollars so far. but IF they allowed the technical trading to run freely, these tight boxes would be broken in either direction,hard to know whether it would surge 1 dollar or fall 1 dollar. these spikey top candlesticks are bearish.especially todays plunge. IF all this price action is being controlled by the MM's...then price will do whatever they intend it to do. and charting doesn't forecast anything here. except to show the mathematic targets being crafted by the computer programs . as it plays out.
so far, not looking like they want any rally to start these days.
but saying that, doesn't mean we will see a great plunge down to test 5.30-5.00 either. Its unforcastable right now.



see how the upwave arcs show the curve flowing where it needed to hold support around 5.90 area,and failed. then the current arcs showing the same 5.80/5.90 area as the key level that needs to see price stay above it, but instead the plunge down to wallow in this 5.60 zone shows weakness,in my view. its critically important that the 5.60 support continues to hold,and also 5.50 area, it would be a massive Failure if it falls below 5.50. we would likely see a cascade plunging to retest 5.30-5.00 base.if that happens.