Replies to post #333005 on Anavex Life Sciences Corp (AVXL)

[sab63090]

I totally agree with your post, Doc328, and we currently have several problems:

1) Option Expiration today
2) Lack of "conviction" volume
3) Failure to push past a trader's observation level (50 day SMA); it will be FADED until it no longer is applicable.

Also, I agree with many that charts are "history" but do provide inflection points (as mentioned above)...additionally, "news" will always be more important than a chart by itself...."big news" will change the movement of price assuming it is IMPORTANT.

[frrol]

OCD cases are prevalent with numerological fixations. Sadly, 2-73 can't help this.

[123tom]

A sensible comment, doc
We both agree about developing a trading system that works well enough. I'm comfortable with what I've developed. But maybe its become too hard for some people to look at my analysis.

My main conclusion in yesterday's analysis, was for folks to watch the resistance capping around 18.00 area. And that turned out to be the correct vision for today. For people who are able to follow my analysis, shouldn't be confused or misunderstanding it,I'm describing the details in clear English
Today the selling at 18 resistance was strongest price action,and the final hour was a determined effort to take it down. Now we wait for next week to show us what buyers will do at key support.