Anavex Life Sciences Corp (AVXL)

[123tom]

Price action is hovering just above key support at 6.00 - 6.20 area, which gets stretched to 5.75. Overhead it looks like 6.75 area could be a capping target.so there's this 1 dollar zone, the current playing field, centered around 6.25. And price is sliding up and down around this area, not looking in any hurry to rush to the next 1 dollar targets, down to test new lows around 5.50- 5.25, or jump up to test 7.50- 7.75.
It's starting to look like a slowing down pattern, to me, and to be expected , since no news to excite buying, maybe the bigger test now is watching the downward pressure try to retest bottoms in the coming weeks. Would that develop, I'd anticipate seeing capping between 7.00- 6.50 area, and then bleeding down the 30 and 60 cent steps that arrive at the 5.50- 5.25- 5.00 target zone. Would traders buy some more at 5.75-5.00 ? Are we now in one of those moments where Avxl needs a boost of confidence with good news? The old big chart picture had developed the major support bottoms at 10.00 area,9.00 area, now waiting as Resistance. It has to be seen as a major target for traders to sell there. My target as well.