Anavex Life Sciences Corp (AVXL)

[123tom]

@ Inv 2014, yes, sure, 8 is a big target zone (8.00- 8.40) , but seems to me like without good news, a rally of 2.50 to climb there would be a major move now. We got a bullish move like that last fall, in anticipation of big news by year end.... but isn't the situation very different now. Now, if 2024 is looking like a state of limbo , we could see weeks and months of price bleeding down , trying to develop the finished bottom. I think these last few weeks are beginning that process, not bouncing back up strong at all, currently unable to break through 6 dollars... sellers will be emboldened to try bleeding to 5 and lower. Will they have the whole year to get there? before any good news comes? If some trading game rallies the price up to 7.20/7.50 target at the key MA's, wouldn't that seem like the place for a major short attack, I might anticipate that, and it would take a good news rally to break through that resistance ceiling, and climb to 8. I'm thinking no real rally can happen without good news, and so right now, the cycle is looking to find the lowest bottom again. We should see some clues in the coming weeks, watching the small bounces, and the strength of capping resistance, watching the technical trading game now.
At the moment, the target I'm looking for, to even begin the first wave of a recovery bounce , is 6.80 area. A rally to 6.80 followed by a pullback support holding strong at 6 dollars. Then another rally to test those MA's at 7.30 area. I'm not very confident we'll see a rally like that right now. But I could be proven wrong. And if AVXL announces some good news soon, then that immediately alters the trading game.