Anavex Life Sciences Corp (AVXL)

[123tom]

Price action today....


really needs to hold now at 3.20 and not fall below 3.15,or else that opens up the window for a fall back to test 3 dollars.
Peaking at 3.40 today finished the bounce from yesterday,but now the pullback has to hold some kind of support 3.20/3.15 in order to make the bounce at least stay neutral in this Bottom zone that is not looking finished yet, still establishing itself around 3.00-3.30 area.

If there is any rally recovery developing now, this week, today's pullback is showing a grinding struggle ongoing ,not a surging strong bounce ,back toward 3.75 and 4 dollar target zone.... its slow going so far.The pullback here needs to hold critical support (3.20-3.15) if there will be another good bounce to come.
in my view. Some kind of stronger buying needs to step in tomorrow.or else we have the same ole bleeding down game that we've watched for a long time.

crystal ball sees target 3.88 in this 'rally' cycle. IF 3.20 support holds.climbing technical steps to 3.30/3.46/3.60/3.70/3.80 and 3.88
in case anyone is looking at the technical chart these days.

in the 'bearish' bleeding down game, the picture is simple now.IF 3.20 fails and 3.15 fails, then we're looking at a retest of 3 dollars. then, if there's a bounce, watch for a Hammer down at 3.20 area,with a desire to break 3 dollars and start targeting 2.80. and that breakdown of 3 dollars would be a bad bleeding cut .I would hope Anavex and the MM's wouldn't allow that much price collapse.