Anavex Life Sciences Corp (AVXL)

[123tom]

@pcguy, thats an interesting question
for chart analysis, makes for a good discussion. we can have that better at my TA forum rather than mess up the AVXL forum.
But the simplest description I can manage here is that I like to experiment with a bunch of different construction points,just to see how it connects to other points. Drawing parallel lines...do they connect to important points, etc... I usually draw around Fib target points and the obvious support resistance points.
There are often some good clues that take shape when you experiment with the placements. I also like to construct some lines that would be possible future connecting points. Like right now, the constructions I'm drawing now are highlighting the 22 dollar area as a resistance zone to watch out for capping. Its all an exercise of trying to fine tune the microscope in a sense.

The most interesting thing that happened today in my view, was the opening 2 or 3 minutes, that shot up to 22.50 and then down to 20.80 or wherever it went, and then climbed back to level again and then settled down to climb small steps up. It seemed to me like a test of the pressure from the MM's. I will ignore the blast up and the plunge down.,

If you click to enlarge this messy chart it will show all these lines Ive drawn. Mostly for my own exercise. But if you looked carefully you can see how every line connects to a key point.

lotsa lines all connecting