Anavex Life Sciences Corp (AVXL)

[123tom]

That support step at 12.40 Held ok

and up it continued. Its been a good rally from the 11.07 low.
The larger wave is 10 to 14 so the new support steps are developing.
and this rally might not stop at 14. I have been watching this key area 13.00-13.70 for resistance. It seems to be pushing and bleeding upward in this run. But what are the odds we see one of those 2 dollar pullbacks at some point. The peak at 16 got taken down to 10.
Its all a guessing game what the powers do with the rally patterns. For months we saw the 11 dollar area as a solid looking bottom, and then they take it down to 10 like it was nothing, when the time came. so it all looks like a game to me. I think we'll see strong resistance now at 14. and maybe that 2 dollar pullback to target 12.
The bottom zone looks like 12 to 10. But for me, being in this since 2011, I cant be happy about buying shares at 11 dollars when I've been used to buying at 2.50 . My core is around 1.50. I have some trading shares at 10.50 and for me 11.50 is expensive to buy in my portfolio.
Good trading to all.