Anavex Life Sciences Corp (AVXL)

[BIOChecker4]

We caught a bit of an updraft from the market today but volume was light with fewer than 1 million shares sold. I don’t see any conviction in AVXL. Investors are hanging back waiting for possible news. My guess is we’ll get a pop on a headline about Rett (assuming we get any news on Rett). Whether the pop will be sustained for more than a day or two will depend on whether or not the market accepts the data analysis as legit. I would still caution that tax-loss selling in AVXL could be significant between now and the end of the year. There are many shareholders who have large losses going into the last two months of 2023 and may decide to take some losses to offset gains in other stocks. Tax-loss selling season kicks off in earnest next week, so we’ll see what happens. If we see a lot of tax-loss selling in AVXL, investors might be able to pick up less expensive shares in January.

Good luck and DOG bless,