Anavex Life Sciences Corp (AVXL)

[123tom]

A chart to look at

in case its a fair road map.

AVXL bleeding down
has a few more targets to look for. watching these 40 and 50 cent moves. the 1 dollar trade targets. it seems all in play in technical trading in the current cycle.
Looking in the upward direction, IF the next moves bounce upward to the 6.10/6.15 area and come back to hold the 5.90 step, that would look to me like a breakout in bullish momentum,holding support at a key point 5.90 and a 50 cent move upward that could suggest the 5.65 step becomes a key support Low in an upward turn around.
and might become the push into a big rally wave. 5.10 to 6.20 is 1.10, even if we call it a 1 dollar move, that math measurement adds 1.60-1.80 to the next measurement Fib target zone looking at the 7.75-8.00 target zone. Is there any reason for such a rally right now?
or does the current cycle look more like a new waiting phase. Waiting phase to me, means bleeding down to test 5 dollars and maybe 4.75 ,where the 200 Ma is waiting.
I've drawn other charts lately that are showing a sliding zone for the next few weeks in the 6.00-5.50 area and maybe a drop to test 5.25 could be a low to buy. but the 6 dollar area as a capping resistance. for a while. So IF we see a big breakthrough now that reaches back to test 6.20 area, That would be a decent bullish clue for me. BUT, in a rally move like that, the support will need to hold strong around 5.90-5.80 area 5.75 at the lowest. for this road map picture to be viable.