Anavex Life Sciences Corp (AVXL)

[123tom]

From the 4.80 current bottom, we get a decent bounce now, to Begin trying to make some rally recovery. Watch the resistance steps here at 5.15/5.20/5.25 to see If the sellers make a strong effort to hammer it down again. Watch to see if support would hold now around 4.95 area.
A more promising rally needs at least 2 or 3 more of these upward moves. To retest 5.80-6.00 target area. If the upwave achieves that, then it starts to redevelop the larger chart patterns. Swing patterns. Maybe establishing a finished bottom at 4.80 , but that would need more time still, to establish first, a shoulder support zone around 5.30 area. Today is the second effort to bounce from the 4.80 base. Needs a lot more climbing to reach the finish target at 5.80/6.00 . But today began the effort.