Replies to post #48858 on Anavex Life Sciences Corp (AVXL)

[hfb46]

We are due for a "technical bounce", and sometimes those can last for a couple of days. But today is Friday which MIGHT mean the bounce may not even last until the close, unless profit taking traders are willing to hold positions over the weekend. All biotechs have been clobbered this week. Even the Tekla Life Sciences Fund (HQL) is down about 10% on the week, and baby biotechs have really been hit.

I am a little concerned that we may be entering one of those cycles where biotechs lose favor, and those cycles can potentially be quite bearish, even for companies with good news. But I am hopeful that AVXL will release very encouraging data this month which will provide support.