The technicals are strong. As I have believed all along the fundamentals are strong. I use Tom Demarks service, which I find to be highly reliable in general. My Demark study is favorable for this move to continue short term for the next week or so, meaning we should have at least 8 trading days, if not more, of generally moving upwards. What is more, if you are a follower of Elliott Wave analysis (I will leave that to Tom123), we may concievably be about to end (if we have not already done so) a wave 2 down. 3rd waves are allegedly what you want to catch. If and when AVXL share price enters wave 3, it should take us to a price higher than the last short term high of $4.35. I think $4.35 is at or near the top of what may be considered wave 1. Wave 2, a corretion wave, concievably ended around $2.51. Tom 123, assuming we may have commenced a wave 3 move up, where do you think wave 3 may take us? It seems that it may very well take the share price past the "...Fibonacci geometric target 4.86..." Tom 123 mentions in one of his last posts.
Of course, Elliott Wave analysis, as Tom Demark analysis, is not perfect and both sometimes seem to be problematic when applied to small biotech stocks or when any stock starts trending, hopefully in this case upwards. However, we have been as high as $5.14-$5.15 in the fall of last year (we were over $6 - about $6.84 on February 21, 2017), and about $8.30 in July 2016 as well as $14.84 in November 2015. Why can't we do better than $4.86 at this juncture with the Alzheimer's trial proceeding and Parkinson's and Rett clinical trials on the horizon?
A question we all should ask ourselves is this: Is Anavex in a more favorable position than in 2015 - 2017 or worse?
Note: I could not reply directly to Tom123’s last post because I have not upgraded as IHub keeps urging me to do. Perhaps Tom will read this post and reply.
