Replies to post #456457 on Anavex Life Sciences Corp (AVXL)

[123tom]

Trading game is tricky isn't it. Even good skill might only be right 70%. 80%.
Today, ends the week seeing the bounce at 4.50 Resistance, tumble right back down, completely erasing the bounce. A bounce from a new cycle Low. Is it fair to say, right now, in a news cycle drought, with many weeks of waiting time, the price manipulation is bleeding down, to develop a cycle Bottom for 2024. This bleeding down game can continue to tumble and bleed like this for many weeks more. A few years ago when the same pattern was developing to establish the bottom zone around 2.20 , zig zagging from 2.20 to 4.00 and in the 3's... how many months did that take. Targets in the current picture, in my view,
Down goes to 4.00, every 10 cent step to 3.50, I want to wait and see if it reaches 3.50. before considering 3.00
Upward direction from here, if 4.20 holds.... Resistance every step from 4.40 to 4.80 // and reaching 5.00 would be a bullish looking bounce. Today, the selling force looked intent on destroying the small bounce. I see NO sign of any bullish momentum right now. Resistance overhead, at 4.80, is major barrier to watch