Anavex Life Sciences Corp (AVXL)

[123tom]

Watching the price action for today


The pullback continued to the support step at the 18.50 area and bounced. Holding that 18.50 support is ok so far.
would have looked more bullish if the higher steps at 19-19.50 had held, but its ok for the swing pattern. we got a 3 dollar rally from 17.50 to 20.50 area and then a 2 dollar pullback to 18.50. its an ok track pattern for the next rally wave to target higher steps like 21.50 22.50 and a better bullish picture would be if it reaches the 23-25 area to finish. From those higher peaks,I'd want to see the pullback make higher lows holding at the 20 shoulder zone and then the picture starts to look more bullish ,with that reverse head and shoulders pattern. So a good follow through rally this week in the next few days from here to test 22 area would be the bullish move to watch for.