Anavex Life Sciences Corp (AVXL)

[oldmystic]

Saaby, QQQ parallel channel support possible as depicted below. Note that magnitude of decline from 03/21-04/19 equals the decline we have seen over the past two weeks. Having said that, closing the week at the low is never a good sign. We'll see what happens with overnight futures and whether the market can stabilize over the next few days. XBI has been trying to break through a well defined horizontal channel for sometime. Note ascending triangle. AVXL hovering midway between .5 and .682 Fibonacci retracement zone of the recent advance.
QQQ Daily: https://invst.ly/16e85-
XBI Monthly: https://invst.ly/16e8d5
XBI Weekly: https://invst.ly/16e8cq
XBI Daily: https://invst.ly/16e8er
AVXL Daily: https://invst.ly/16e8ih