Anavex Life Sciences Corp (AVXL)

[123tom]

I dont know how fast or slow

the time it will take for price to reach a target. .It would be nice if that could be seen in advance. I place more importance on finding the target price, and try to not worry as much about how long it takes to get there.

Sometimes we see price plunge down alot at the open or jump alot at the open. sometimes we see a good bounce or a weak bounce. The support and resistance is easy to see where the pivot reversals happen. and thats a key thing to notice. So now from today we have resistance around 19.00 and 18.65 area. add 18.50 to that. AVXL likes to make 1 dollar moves and 2 dollar moves. I'm seeing a 2 dollar move setting up, and may have already started. would it be from 19.50 to continue down to retest 17.50 or would it be a 1 dollar bounce from 18.25 back up to test 19.25. I cant predict the next move. but I'm watching these 2 track patterns.I dont know if that helps at all. Today, the 18.50 didnt hold strong. 18.25 doesnt seem a clear step to me. The resistance pivot reversed around 18.65 ,I could see a 1 dollar move down to target 17.65 on the way to retest 17.50 area. and the larger picture in the zig zag Wave 4 pattern then becomes ABCD and waiting for the bounce to try and climb back up to retest the 19.50 again. IF this starts to develop,then I'd be cautiously watching the resistance around the 18.50 area to stifle the bounce and start selling down into the Wave 5 to finish at lower lows.below 17.50 but all that is premature at the moment.
At this moment I think its less important to forcast a target than it is to just sit back and watch. and see what it does.