Replies to post #101475 on Anavex Life Sciences Corp (AVXL)

[123tom]

to answer your question....

my last post describes what I am watching for next.

I don't thing a Technical chart has to forecast "What price will do next" only the powers that move price know where they intend to take it. but the TA can show where price "might" go . like streets on a road map, several are possible. as targets. I find it helpful to be able to see the targets on the road map. to be able to count Elliott waves and get some clue as to where the key support station is , and the resistance walls are.

and so far today....after hitting this key target at 5.70, this little bounce does not look strong ,so far.
the weakness here could be a clue for more weakness.
after a plunge like this, to a key target at 5.70 I would like to have seen a stronger bounce. (oh, and even an extra blip down to hit 5.67 like an exclamation point.) I think in a bullish pattern with "bullish" momentum, we should have seen a stronger bounce today. this could be a warning clue.This plunge needs to make a full recovery,retesting the 6.20 area,to avoid more danger.