Replies to post #238403 on Anavex Life Sciences Corp (AVXL)

[Gator328]

Thanks Tom. I always try to call it like I see it, the good and the bad. I hate seeing the price drop too because I feel it when I look at my portfolio value, but I know that in the long run the consolidation was necessary.

The way I see it, I'd rather be at $3.80 but have a lot of shares exchange from old, weak hands to new, strong ones -- people who are in at $3.80 are more inclined to hold than people who are looking to protect profits after 4 years of being in the red -- than to be at $6 with a wobbly foundation of shareholders. When a price becomes high enough it'll turn even the most conservative investor into a day trader temporarily.

Let's see if the market can stabilize above $4. I think it might. I had a feeling the price would drop but I didn't foresee Coronavirus being the reason. Fortunately this is the sort of news event that will be quickly forgotten once everyone has time to process the severity of the situation.

[Gator328]

Tom what are your thoughts on today's price movement? And market in general as it relates to biotech like AVXL?

[123tom]

so where to now for AVXL

it hits the math target at 3.80 , and bounces to 4.10 resistance, fails there and drops another 60 cent move to target the 3.50.

Looking now like an over sold move. from 6.30 to 3.50. could it fall a bit lower. 3.25 or 3.00 ? maybe. but could also hold here from 3.50. where does it need to rally to, in order to begin a recovery wave.
I think it needs to at least retest 4.25