Anavex Life Sciences Corp (AVXL)

[Gator328]

It's normal consolidation. Look at any other biotech and you'll see a similar pattern. Why would traders hold this stock when there isn't any immediate news? We're still a bit away from Rett results being made public, and there are lots of other news-driven stocks for people to trade.

Most of the people who are in this for the long-term aren't going to average up -- they're trying to protect massive profits. And pretty much anyone who hasn't bought in by now is probably waiting for the risk to be diminished -- they've been on the sidelines for a while.

What's happening with the pullback is that people are selling their shares and others are buying them. Do you think those buying stock at $17 have any interest in selling at $20? Some might but a lot of them will look for $25-$30. When it gets there it may pull back a bit and new buyers will come who will hold until it gets to $40 or $45 on the next wave of good news, etc...

It's consolidation and it's nothing to worry about. It's not as if bad news is leaking that A273 is failing its blinded trials...