Anavex Life Sciences Corp (AVXL)

[123tom]

a chart picture

AVXL

some thoughts...

IF we get a bounce from this 16.70 Low, I want to first see how high it climbs in the First subwave. The pullback will show where to mark the first wave peak. This needs to happen first, and then I can measure the projection for a finish target projection.
But before this first bounce finishes, the current picture shows where the Fib target zone is... and this is
worth noticing . first resistance area looks like the 18.40-18.60 area. then 19.00 is the central area target and the 50ma is around there (19.10 area) then the Fib target around 19.40, then 19.80 is a target , 20.00 and then 20.20 is a target area. It would be a strong rally that reaches 21.
This pivot at the 16.70 low is a major target. Lets watch and see if AVXL makes any decent bounce from here. nothing less than 2 dollars with an eye to hit the 50ma. around 19 dollars.