Anavex Life Sciences Corp (AVXL): When there's no news coming, when t...

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123tom

Re: georgejjl post# 450061

Monday, 01/29/2024 4:17:22 PM

Monday, January 29, 2024 4:17:22 PM

When there's no news coming, when technical trading cycle takes over, it's all about price bouncing and tumbling up and down the steps hitting Resistance and Support targets, and the game plays out, with wall street manipulation, HFT trading algos, etc... and mom and pop traders hanging on for the ride. Experienced TA analysts can understand what the price action is doing, and catch the signals.
The current battle zone is 6.00-6.30 support versus 7.00-7.30 Resistance. The technical trading game could dominate the whole year, if there's no news.
The latest pivot low in the current cycle is around 5.70, so far. Below that, is the 5.00 area. Do you think price patterns can retest 5 dollars again ? Can a rally pattern climb back up to 10 dollars again, this year? Right in the middle, is the key MA's around 7.50. And they are now waiting to act as Resistance.