Anavex Life Sciences Corp (AVXL)

[123tom]

This week was a decent bounce

what I like about it, was the fact that the price action regained a visible ,measurable track pattern, in a decent bounce,looking determined to move up, and the next day it made follow through to the 12 target zone. It showed enough bullish strength to get that high. 12 was the target to watch. and now,as I described early, the pullback zone for support to watch would be the 11.50-11.00 area,11.25 in the middle. and this is where we are watching the week end and set up for the battle here next week. Lower targets in the downwave start at a retest of 10.50. 10 dollars is a target and onward to retest the 9 area is possible. But the bullish momentum, if there continues to develop, "should" hold here around 11.00-11.40 and continue upward to try for 13/13.20/13.40/13.60 etc... a truly bullish momentum would make another good bounce next week, just like this week, and target 13 and onward to try for 14.
A bearish bias would keep avxl stuck around 11 and maybe 10 and looking at retesting 9.50. Have a good weekend. dont forget the stock market is poised to crash in this summer cycle.
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(remember froole's daily wisdom...this is nonsense)