Anavex Life Sciences Corp (AVXL)

[123tom]

The collapse in price began yesterday

from the 9.80 peak. But today alone, collapsed down 1.20 in 3 hours, from 10 am to 1.pm., nonstop, down 13% and then bounced at 8.13. and ended the day plunging down again. So from the peak resistance at 9.83 to 8.13 is a drop of 1.70 ,which was 17% . Which is what baby bio stocks do all the time, dont they. but after watching it all these years, it never stops looking ugly, every time it happens.
So I'm now turning my attention on watching the pullback, and with the rally finished at 9.80,can measure the math. The bottom was at 7.10 area. and measure to the peak that capped at 9.80 area. I was hoping to see the rally continue to hit 10 dollars (10.00-10.50) as a trim target area. but the price controllers had other algos in the computer trading system.
Now looking at a completed rally wave, the basic pullback target area is here at 8.00-8.50, but I personally dont trust it to hold 8.13.
Will we see a retest of 7 dollars or will we see 8 dollar area hold strong.and will we regret buying any here if the stock market crashes and AVXL falls to 4 and 3 dollars again.
The stock market is in a political cycle waiting to Crash. Its just a matter of time. So looking at the S+P chart I see it having made a decent rally that has so far held in its short term bullish pattern. AVXL's bullish rally wave broke down this week, in these last 2 collapsing days. and so I'm focusing on the bottom zone again. From a rally start at 7.10 to a peak at 9.80, the 50% Fib target zone is around 8.45 (8.00-8.15-8.45-8.75)
I'm not a buyer here nor even at 7 dollars. The market is waiting to be crashed.