Replies to post #316266 on Anavex Life Sciences Corp (AVXL)

[Bud Powell]

Bullish? lol

[Bourbon_on_my_cornflakes]

WHAT IT WILL LOOK LIKE: If the share price closes above 27.80 soon
How is it charted ?

Chart will look like this:

[123tom]

Why is closing price believed to be important?
I dont really think closing price means all that much. I rather believe that the Target price peaks and pivots are more important. Like todays surge up, almost 6 dollars, targeting the 28, which as we know is a big magnetic target area. From there this morning it fell back to hit 25, another key target. I look at the price action as it moves to hit targets and target areas. last week was hitting the target area 21 and 22. That was a visible target zone on the math chart. as is 25 and 28. so it looks to me like the price is moving along the math track patterns pretty closely.
. More good news and more good PR articles,is all positive for the continued momentum. In the recent past ,when hopeful dreamers would say we will see AVXL at 50 and 100 dollars, I would roll my eyes a little because it was way too much to consider when you follow the daily price action game, as it goes up and down, in a roller coaster ride. But now, Its possible this can keep climbing and surging to jackpot targets higher and higher.
Its a new cycle for Anavex, for sure.
But even still, the price action continues to run along the math track patterns. Zig zagging now in the 25-28 zone. The last week was zig zagging in the 17-22 zone.
I have to keep my eye on the chart picture.
and as the track pattern develops, it begins to show target zones ,in both directions, and after a big surge, the automatic response in my view, is to start looking for pullback targets , maybe bargain zones to buy some more.
IF 28 caps as a 'finished wave' peak, we might see the pullback follow track pattern down to the math targets in the chart.
Last week's key pullback targets were looking at a move from 22 down to retest 19 or maybe hold at 18. Now from 28 peak, I'm looking at 22/21/20/19/18 area.
Its just something to watch as price runs along the track patterns.
Yes, these surging blasts look like rocket ships, but they really run like rollercoasters to the target zones,up and down.
target zone 28 hits today There are higher targets waiting but this peak at 28 has to be watched for resistance on the technical chart.
and for those who like 'Gap fills' , the pullback zone is 24-22