Anavex Life Sciences Corp (AVXL)

[sokol]

A significant price move today and some other small, encouraging signs are appearing. On a daily basis, money, accumulation, RSI, MACD, STO and other indicators are turning up after a descent from June 7 through August 9. Some insider buying is taking place.

It was a steep drop from $6.27 on June 7 to a low of $3.33 on August 9, approximately 50% down for that time frame. After hours today, a few shares traded at $4.14. That is a gain of almost 25% from the August 9 low of $3.33.

I do not know where we go next, but suddenly it is looking better. Seasonally, September has been a good month for the company usually with more news events. We saw some increased volume on a significant down move on July 21. After that volume somewhat declined until the low on August 9, which was a tad up. Volume on this up move today was decent, over 531,000 compared to average volume of over 320,000.

We will have to wait and see, but for now, there are more buyers than sellers after more than a month of selling.