Replies to post #211446 on Anavex Life Sciences Corp (AVXL)

[jimmy667]

Good call! I slapped the ask at $3.36 as well, it filled and almost instantly gained a nickel then kept going up.

[123tom]

you caught a pivot low.
thats usually a good thing.

I think this was the key target in this zone.3.35/3.30

to hold and stay above it.

resistance was at 3.45 area and the rally went thru it to 3.65. a positive move for that part of it, but then sold off end of day . its a tricky looking spot AVXL sits in right now, in between the resistance peak around 3.60 and the support at 3.40/3.50
This rally needs another leg up to complete a 5 wave pattern. and its a decent target zone above 3.70 to shoot for. 4 dollars/3.90/4.10 area. there is a magnetic energy to that 4 dollar target.

as there is also one at the 3 dollar target.

Does AVXL look overbought now, as it faces the overhead resistance?