Anavex Life Sciences Corp (AVXL)

[sokol]

The 50 day moving average is trying to cross the 200 day moving average for a golden cross that technicians consider bullish. Plus, I liked the way the share price held up recently around $3 - $3.10. I think we have a suspected market low based on the price bars closes, opens and lows for July 16 - 18, plus the 50 day MA has been headed upwards toward the 200 day MA and likely to cross the 200 day MA. The price action is showing resilience leading up to the AAIC presentations next week. Of course, this suspected low must be confirmed next week, but I think the market is preparing for some good news for Anavex’s share price. If the expectation for good news does not develop, ...well, you know what will happen.