Xena, The current AVXL chart setup looks poised for a possible bounce up to 4.50. The longer term chart is not so good, but as a short term trade the chart looks interesting. But ultimately the longer term chart is suggesting a return to key support at 2.50. But just a guess, and will depend upon news flow.
I remember Anavex somewhat from years ago. The CNS-neuro-psych subsector has long been considered one of the riskiest areas of biotech. We called these stocks 'widow makers', but occasionally one will find success. I eventually switched to the cancer sector, specifically the 'armed-MAB' space, but ultimately picked the wrong horse -- Immunogen rather than Seattle Genetics (Seagen). Both were eventually acquired, but SGEN had phenomenal success, much better than IMGN's. These days I only follow biotech very loosely. It's still the 'wild west' of investing, and mainly for gunslingers imo.
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