Anavex Life Sciences Corp (AVXL)

[sab63090]

It's somewhat disappointing to me that $AVXL is able to rally best when either $SAVA or $ANVS are pushing higher albeit from what I consider weaker levels, but are noticeably % wise much stronger on those days. I have no position in either of those 2 names; and at times I am envious of those percentage pops.

$AVXL was able to bounce higher from the .382 fib retrace level of appx 21.25, but lacks conviction volume; today is just an "also ran" (race track comparison)....we'll see if the 50% or 61.8% occurs, but I'm holding with the idea that most professional traders very much like a shorter, quick pullback than the deeper ones, that's bullish all by itself!

Maybe we'll at least see the upper $23 towards $24 levels challenged/tested....very quickly....my 2 bits.