123Tom's TA study group

[123tom]

Good publicity but...
we see the pullback is happening.
I agree with the taking a little profit at this top zone.
looking for the bargain buy targets now.
I'm noticing technical price steps getting hit, like the latest resistance peak at 25.58 falls to 23.58, a 2 dollar move. I'm looking for more down to come. maybe target steps at 21.50/20.50/19.50 would be my bargain zone watching it . The resistance zone overhead is waiting now. From the 28 peak area,I'm seeing 27.50 setting the tone for these .50 cent stepping stones. the bounces went 1 dollar from 25 to 26, then down to 23.75 area then 25.58. There is technical math playing out in the moves. Down 3 dollars up 1, down 2 dollars, etc... 3 dollars in the mix developing, as you can figure out these math moves.

I know there is bullish news and PR momentum, but the pullback is happening now. would it hold strong at a higher target like here 23.50? or fall in the more normal pattern down to retest the 22 shoulder zone. Its been a big move from 10 to 28.
At the moment,I still see 17 as the new base and 10 as the cemented Bottom. I'm not anticipating a retest of 17, but I sense 20/21 could be in play. maybe 20 and 19. as best bargains to buy more.

Would you have thought even a year ago that we would call 19 a bargain??? yikes. Its a new day for Anavex. but I still want to be careful always.

AVXL pullback

A few more thoughts, I know this chart picture looks like a bull flag, is that right ? but I think after a big surge to almost hit 28, the price is zigging down and bouncing somewhat weakly,to try and find its 'real peak' the secondary peak, so far looking more like 26/25 area. The wave from 17 to 27, if we measure the 50% middle you get a target around 22. I expect to see that get reached. the shoulder base around 22 is a feature on this pattern.
Of course there are continued rally waves poised to happen, and targets in the 30's are starting to show up on my math charts. but I always look to take care about larger downwaves that get bled down and down. Look how easy it was the previous time for AVXL to plunge from 28 back to 11 last time. I dont think it will happen this time,I know you dont either. this is different now. so how low can they push it down now. My best math picture is looking at the 19-20 area . in steps. 22.50/22.00/21.50/20.50 etc I like all the steps on the way down. 18 is a big magnetic target step. 19.25 area. magnetic.

I'll bet your EMAs and chart lines are pointing at many of those targets.