Anavex Life Sciences Corp (AVXL)

[123tom]

Price was jolted at the open, to hit the current targets of support(3.60 step) which held so far around 3.75 area, a higher high... so far, and resistance at 3.90 area, not hard to see on the chart. 3.80 is set as the balance line now, and today's small bounce , after holding support, has a chance to become a bullish rally follow up , to target 4.00 and climb higher steps 4.10/20/30/4.40 target zone, in a mathematical "finish" target. Simplest view is to call it a 1 dollar rally from the 3.25-3.40 "Bottom ". But the current battle isn't resolved yet, here at the key balance point 3.75/3.80... could still roll over, if they want it to.
In the larger chart view of the past month, the developing upwave looks to me like 3.25 Bottom , up 1 dollar, to target 4.25 top. And the downwave pattern would be the 3.90 resistance rollover area, down 1 dollar to target 2.90. In the middle is the key shoulder around 3.60