Anavex Life Sciences Corp (AVXL)

[123tom]

The price is bleeding down, bouncing to load up, roll over and bleed down lower. We've seen this trading game for years. Technically on the chart... the latest longer term chart, (1 -3 years) established a double Bottom zone held at 4.80... but now, once that support broke down, it's a new picture, and looking to reset a new bottom zone for the big picture. The question is, how fast and furious, or how slowly over weeks and months, will it go to reach its next major pivot bottom. A few years ago the bottom zone was around 2.00/2.25/2.50. I can only see a few target steps ahead of time as they come.
The next targets look like 4.00 and 3.80 to me. 3.50 is starting to appear thru the mist.
Today plunged to 4.34, bounces a little... it's a classic looking bleeding down game, rolling over at the resistance bounce and bleeding down lower. That's how shorts and sellers are passing the time while we wait for Good news.