Anavex Life Sciences Corp (AVXL)

[wildcard235]

Non-traditional Golden Cross yesterday, 30-minute periods

I can't help but wonder if yesterday's dramatic rise in price per share and volume was related to a non-traditional Golden Cross.

"The golden cross is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average. The golden cross is a bullish breakout pattern formed from a crossover involving a security's short-term moving average... breaking above its long-term moving average..."

The most common calculation of a Golden Cross is with a 50-day short term moving average and 200-day long-term moving average. That happened on 3 April 2019 for AVXL, with no significant market reaction.

However, looking at 30-minute periods, AVXL's 50-half-hour moving average came up to meet the 200-half-hour moving average on Monday afternoon, and they stayed roughly equal for all of Tuesday and Wednesday morning. Then with a little rise in PPS on Wednesday morning, they parted, with the 200 period MA rising above the 50 period MA. That's exactly when the large volume and PPS began to spike up.