Anavex Life Sciences Corp (AVXL)

[sab63090]

Tom:

I'll step away from Elliott Wave at this point and revert to a more simple model: support and resistance which are probably the clearest method and simple to understand; you've given those parameters! support: 17.50 resistance: visible on your chart

To me: just using a simple to understand resistance: downline and the 50 day which we are trading under right now....most professional traders wait for the 50 day to go "north" and it's always good to be above the 200 day which we are.

I still feel the downline will be broken to the upside (my bias), but consider option expiration....I know this is always a roadblock.

Not especially fond of month end either as a lot of traders' books reflect month end RESULTS and they are paid on good results...lol