Anavex Life Sciences Corp (AVXL)

[123tom]

Looks like the downward pattern continues .
The month of July, looking at August, the week retests 8 and now 7.90..... it's stepping down, bleeding down, into the Range pattern bottom zone again. Last week my small buy hit 7.97. My next one is set for 7.53. I see no reason to adjust that right now. Buying very small pieces at a time.
In the downwave pattern we've been watching, we saw a rally bounce, when it looked like we could have a " bottom", around 7.75, and then we saw a nice looking 1 dollar bounce... I just watched for the basic pullback to see if it would hold support, where bullish patterns and math would suggest... 8.35/8.25/8.15 .... and now we see it failed. And now we see 8.00 failed. So I say we're not looking at any bullish rally pattern developing. It's the same old Range pattern,looking to find the finished bottom. We've seen several pivots below 7.70... down to 6.85 ( 7.00 -7.60) is my target zone now.