Anavex Life Sciences Corp (AVXL)

[123tom]

Price action today

5 minute candles


the usual pop and drop at the open, or today the drop and pop. testing the pressures. and upward today. to the 11.50 target step. now the pullback to test support steps, 11 dollars (Testing 11 right now), 10.80 is in play as the next area of support. might be the playing field for today. but lower steps are still in play.bargains for traders and gamblers are looking at 10.60/10.50 and maybe best bargains could test 10.40. Below 10.40 is the disolving of the whole rally wave once again. Lets see how low this pullback will go. The standard target zone is around 10.70/10.60 in my view. 10.80 is a key magnet step now.
Continued rally from here should be looking for 11.75 and 12 dollars and on upward to 13 if the momentum takes over.
Nice to see instys adding shares. like the next train boarding for the longer upward journey.
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As a swing pattern developing, if this pattern continues upward, can become a solid looking picture, that fits with the large pattern... where we have seen the 11 dollar support as a base.(in the Range Pattern for months) It broke down last week, but now would become the shoulder support area to watch develop. and what we want to see now, in the upward moves, is a rally continue to target 12 and then pullbacks Holding strong at 11 dollars again, to create that right shoulder support zone. So it can be instructive to watch how the price develops support here around 11 dollars developing for a while. it might fall to test 10.80 or 10.50 for a while but ultimately I want to see it rally to 12 area, and from there see how the pullbacks would hold strong at the 11 base.(if they will) That would be the picture of a solid reverse head and shoulders swing pattern.and might take a week or so to develop now.