Anavex Life Sciences Corp (AVXL)

[123tom]

Tricky price gyrations these days,it seems.
I want to see an uptrending pattern but it keeps making lower pivots looking downward...and then it bounces higher than the average target, like today. In big swings,2 dollars up and then downagain. I'm not seeing any direction pattern yet, other than what might be a range pattern, from 16.50 to 20.50. IF it was showing us an upward pattern, I could say,ok, its mak8ng higher highs and higher lows and I'm looking for support to hold around 18.30 -18.00 area. But for the last 2 or 3 waves up and down the bullish support steps got crushed down. That's what a range pattern does. Right now,the technical support zone is that 18.20 area. But sellers could push and plunge it down to 17 again for all we know. We're in the same cycle now as we were a month ago, and those support steps from 18.50 to 18 got badly shattered .they could get smashed again. I don't think its possible to forecast the support target that will be the next major pivot low. It could be 18.it could be 17. 17.50. 16.50
And the pressure top looks to me like 21.50 maybe 22. But if great news is released we could see 25 and 30 pretty quick.