Anavex Life Sciences Corp (AVXL)

[123tom]

What is the reason your bias is bullish right now? Are you expecting good news to generate 2 or 3 sustained rallys? I think it's possible we are watching the price developing it's balance point. The place where it shows some fair value in the public mind. Based on no news, or many months without news, in my view, the selling pressure will push the price downward, to make that balance point closer to 5 dollars. If sellers can drop it to 4.00 they will try. On the top side we see the sloping slide of lower highs, from 13,12, to 10 dollars now, and overhead around 7.50 is the Resistance wall of key MA's. My bias, at the moment is to see Resistance overhead at 7.30 area get hammered by sellers as they make a Year Long effort to push the price down and down. To make it wallow around the 5 dollar bottom. The key MA'S around 7.40 should be the right balance point, a middle zone between the 5 bottom and the 10 top. But right now, the Resistance test hasn't started yet. It will be a big TA thing to watch when it gets tested. You're thinking price will blow through it very bullish. I'm neutral but bearish anticipating a big selling effort hitting hard as long as there's no news coming.