Anavex Life Sciences Corp (AVXL)

[123tom]

Looking at today's downward move, from the resistance capping around 6.90- 6.75 down it tumbles to end the week hitting 6.30 support area. It's a neutral finish to the week. I expect to see next week continue down to test 6 dollars
( 5.80- 6.05) and lower targets to 5 are in play. The support this week had the 6.50-6.30 area to watch. 6.50 failed. Now we get to see if resistance at 6.50 sends price rolling over and tumbling down to test 6.00. It could become a long year for Avxl if we don't get bullish news.6 dollars can bleed down to 5 and down to 4. My major resistance sell trading shares target is around 8.50. The second rally to get there hasn't begun yet. Price hasn't even reached the key Ma's at 7.50.
The recovery bounce from the 5.75 bottom traveled 1 dollar basically, and now it's pulling back. The 50% Fib target for that move is support around 6.25, and that's what we're watching now heading into next week. I'm expecting to see 6 dollars and 5.85 getting g hit next week. This rally so far, failed to hit 7 dollars. It could bounce bullish again. But what I'm sensing instead. Is a bleeding down. Which is what Avxl always seems to do.