Anavex Life Sciences Corp (AVXL)

[123tom]

Elliott waves

It looks to me like 4 waves down so far. one more to go? target 15 area?

From the 28 peak to 23, from 26 to 20 from 23 to 17.50 so far. maybe the next one is from 20 to 15. or 18.50 to 15.
resistance starts at 18.50 area. but its a larger zone ,from 18.50 to 21.50. It just has to be watched. But currently, you can see this bounce from 17.40 low is not too strong, and zig zags sideways for the past several days...that looks like a wave 4...which suggests another downwave (wave 5) to come.

Elliott Waves