Anavex Life Sciences Corp (AVXL)

[123tom]

Today's green candle...
Rallied above a key balance point for resistance around 5.80, and 6.00 , so the push to 6.15 was a small bullish looking move for one day. The support held at key 5.50-5.70 area last week, which is a small bullish feather in the cap, step by step, each small hurdle to overcome creates a real rally, ... toward key targets. Resistance now to watch from 6.00 to 6.30 . 6.30 is a key target. Above that is a major target around 6.80. The daily 20 ma is there. Above that are the ma's around 7.25 and 7.50 . Without good news, can price just keep running to 8 dollars? Without good news, where would the mm's and wall street trading systems begin to hammer the price back Down? Watch resistance around 6.25, 6.50, 6.80. for clues. Or maybe we'll see a rollover right here at 6.17 area.
Without good news, any rally is a risky rally. In my view, the current playing field still includes a possible downwave back to test 5.30/ 5.00 and 4.80 Area.
There are 1 dollar waves in the pattern . The current one is the upwave from 5.30 looking to target 6.30.