Anavex Life Sciences Corp (AVXL)

[123tom]

I agree with what you said...
AVXL needs good news to stop the bleeding down trading game. Maybe the MMs have the ability to manage the price range,wherever they want it, but the shorts are empowered during this period. We are watching the price action now in a key battle zone between 5.00 support and 5.40 resistance. Watch price action closely here. Shorts have to attack this 5.40 resistance resistance or they risk losing this downwave momentum. A continued rally bounce like today, climbing higher to 5.80 and 6.00 would become a decent first rally wave from the 4.80 bottom. Giving longs a chance to establish the bottom at 5 dollars. 5.40 is still a key resistance for shorts to defend. Let's see if they try tomorrow.