Replies to post #37675 on Anavex Life Sciences Corp (AVXL)

[XenaLives]

I'm hoping that they are expecting longs to capitulate today.

44 minute chart. FTR seems to be very predictive. It supposedly reflects institutional movement. Note that FTR was flat on the drop and then we had strong upward movement on Wednesday. movement since then has been pretty subtle with MACD AND RSI only moving into the red today. FTR could reverse on a dime and we would pop.

The second chart shows from 10/30 onward notice how FTR cycled down and MACD was red all along. RSI oversold in the beginning was a warning, I've noted that peak often happens after the RSI signal.

FTR and MACD flipped to green that first morning and has oscillated higher than the low ever since.

[cjstocksup]

And once AVXL is solid back over $5.00 then over the 50 day MA we will see a massive buy signal that should take us back into the $7.00 to $10.00 range again before any major news or events IMO. Fist we have to show some solid green days ahead for the reversal. Then a close back over the 50 day MA.

3.64 support then 3.80 - 4.14. Wedge forming. Keep in mind the LOW FLOAT and ease of manipulation. Could turn either way quickly. Like the $5 idea.

But a VERY nice wedge forming.

Wedge REVERSAL time!