Anavex Life Sciences Corp (AVXL)

[123tom]

Both SAVA and AVXL have been
falling to try and find a finished bottom .
SAVA collapsed badly from 142 to the recent low at 39. A few weeks ago it was trying to settle down around 50 and then dropped to the 40 bottom. It has a long way to climb just to retrace the basic Fib target zone 70-80-90 area. It might be starting to make that effort now. so I dont see this 9% SAVA bounce as a strong sign that AVXL is weak by comparison. SAVA might be a nice dead cat trade for a double, 40 to 80 and get out. SAVA failed didnt it. the collapse was a result of failure. AVXL has had only success, so buying the finished AVXL bottom is what I'm looking for. I dont know if 16.55 will be the lowest bottom. The support zone here is 16.50-16.30-16.00-and down into the 15's and 14's. and IF we ever do see a market collapse we might see a plunge to the 10 /9/8 target area.
I think for investment decision safety is important now with the possibility of market crash. trimming some at the tops , raising cash to buy the collapse bottoms when it happens.
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But for right now, AVXL is volatile again zig zagging 1 dollar up and down. unchanged for direction in my view. The same support zone needs to hold (17.00-17.40) area. so far its spanning a range from peak to Bottom zones.
AVXL zig zagging

SAVA bottom at 40 ?