Replies to post #83258 on Anavex Life Sciences Corp (AVXL)

[xodcode]

No doubt, after Saturday's surprisingly positive update, many here are optimistic about AVXL's price performance this week and for the foreseeable future.

Although unwise to predict short term price action, since you asked, I'll put forward what my crystal ball sees for this week's price and volume action:

1. Above average volume: Volume exceeding 5 million shares tomorrow with higher than average (i.e 2+ million shares per day) follow through volume rest of week.

2. Key resistance levels are $5, $6.20 and $8, all of which will be tested this week.

3. If volumes are twice or more than those projected in (1) above, a test of the all-time high of $14 cannot be ruled out.

Other: Announced partnership cannot be ruled out.

[Bvega]

My opnion is we open up a head towards 6 bucks or more but by the end of the week I think option expiration, Dow 20,000 and Friday Fed meeting g raising interest rates will cool it down for a few days. Some people think Fed could raise 50 basis pts. It's a long shot and that would shock the market and cause a sell off but with it at 20,000 that would take done of the steam out. Lots of $5 option contracts out there so they may want to keep it near 5 by the end of the week. Off to the races after that.