Anavex Life Sciences Corp (AVXL)

[123tom]

Today's price action

As I mentioned last week, this battle zone bouncing around 2.70 area might take all week to resolve. and so far its doing this.
These support steps at 2.70/2.65/2.60 are critical to hold for a rally pattern to develop. and the resistance overhead starts at 2.80 area now. and all the steps above that have to be earned by a willing climb that doesn't look weak. Funny how last week we saw a good strong surge from 2.62 to 3.06 as IF it meant business, only to see an immediate collapse back down again. This is what the miserable manipulation trading game looks like up close. All bounces are met with strong selling. A real rally needs to hold the pullback support steps, and right now is one of those critical support steps in this 2.65 area.

AVXL needs another good rally bounce that targets at least 3.20 to begin looking better here.
but for starters ,needs to retest 3 dollars .asap. The longer it wallows down here at 2.70 area, the more likely price will bleed down to 2.50 and 2.30 targets.

and we will have a range pattern that sports a 4.30 top a 3.30 middle and a 2.30 bottom. I guess that's ok ,right?
The 270 support shoulder zone being tested.