Anavex Life Sciences Corp (AVXL)

[sab63090]

The failure to surpass 12 yesterday gives me pause:

I thought the momentum was perfect for a further push higher regardless of the overall markets, but someone came in and pressed it to stop the advance....the pullback did at least stay as an "inside day" with the trading range contained within the previous day's range.

I did see a 5 wave advance with the 5th wave ending for Elliott Wave fans...a reasonable target upside remains at 13 for me after which I think a challenge to 13.50 would again take place...Leo has made some good observations and has admitted that he is not biased and rather neutral will the idea that he only trades from the long side with a trader's view.

Intermediate Trendline is still UP and would need to break below the 200 day sma which is around 10.20...

oh, btw, the "death cross" did not work for the bears...