Replies to post #96176 on Anavex Life Sciences Corp (AVXL)

[123tom]

I'd be thrilled to see it surge to 7

I'd be even more thrilled if after surging to 7 it doesn't get hammered back to 5.50.

I'm not sure what constitutes a positive sense of 'momentum'. This week's price action ,the most important impression I got was that it tried to stay up at the 6.00,after falling to test 5.75 area, went back up to retest the 6.14 peak. that was positive. what still remains to be seen is a break out above that peak. and as long as price remains below the 6.64 peak, then there is no greater breakout in the current pattern. Theres a lot of hopefulness,but not yet any technical breakout. There are key steps of support that held strong,a bullish sign, like at the 5.70/5.75 ,but that's the only small victory so far,holding at 5.75 and surging to retest the 6.14 peak. But this isn't what looks like strong momentum to me. strong would have been a bigger follow thru and a surge to higher highs,with a close above 6.15 to end the week. that didn't happen. which isn't to say it cant happen next week. In my view, this week, AVXL did ok, but still has a bunch of work left to do before end of March. we need to see a good week next week.

The pullback coming from the 6.14 top last time fell as low as 5.17 and so far this time stopped at 5.55
a higher low, positive...but a lot more work to do.