Anavex Life Sciences Corp (AVXL)

[123tom]

Technical track pattern
Price gets capped at the 19.60 resistance area and down it goes to retest the 18.60 critical support area.
zig zag pattern continues,unresolved.
but there is a 2 dollar move waiting to happen. The downward move might be 19.60 (already started) to 17.60 retesting the larger Bottom. The upwave move might be 18.60 to 20.60. and even if these 2 dollar moves stretch the zig zag zone thats all it does, it doesnt break out of the Range zone, it just stretches the price to retest the boundaries.

A break out move would be a rally to 22/23/24 area and a downwave move might start hitting 17 and into the 16's. The larger picture has a major shoulder support zone around 16.50-16 area. and the larger resistance zone has 22/23/24/25 and on into the 28 area.
Great news could propel price to 30 area for starters.
but for now, the zig zag gyration is just doing this dance.

the zig zag dance
it might even be a 3 dollar rally. or downwave. 21.60 or 16.60