Anavex Life Sciences Corp (AVXL)

[123tom]

Price action today

the pullback continues.bias looks downwave to me.
lower lows/lower highs. rolling over and down to lower targets.
1775 is a target hit.
watch the bounce now. resistance at 18.50 area and every step higher. watch for 18 area to develop strength as support or breakdown to 17.50 and 17. bias would be looking downward.
The trigger for todays down move was the resistance around 19.25 area.
The completed down waves have run 5 to 6 dollars . are we looking at the 15-14 area to finish?
AVXL chart
IF if if...great news comes soon, then we could see a big jump.
if we dont, then lower targets are likely.