123Tom's TA study group

[123tom]

So Biogen's bad news is
Anavex's 'good news' is that how this works?

its happening at a time when AVXL chart is stretched at the top after a rally. it might stretch some more now, but sooner or later we will see the buying stop,the selling will begin. Maybe the target zone I see at 3.70 will stretch to touch the 200ma at 4 dollars. Watch out if the wall street players are waiting to slam it at 4 dollars now. They could take it back to 2.50 again. Anavex needs to rally upon its own merits, from trial results, still off in the distance. so this momentum surge, a rotation out of BIIB and into AVXL might be a boost but I would be cautious as it reaches certain targets. For my trading shares, it might work fine to take some profit at 4 dollars and buy back at 2.80 again.
AVXL looked poised to drop until today. This boost is now looking to rally as the finishing wave 5 in this chart pattern. This move today satisfies the beginning of the breakout into wave 5 rally. the Math target zone has always been around 3.70-4.00 area. I might hold to see if it hits that 200ma. How overbought will the indicators be in the coming days?

I rely on Elliott waves and Fibonacci math for targets