Is Selling Anavex Life Sciences Corp. (AVXL) Here a Winning Strategy? The Stock Formed Wedge Down Chart Pattern

May 16, 2018 - By Darrin Black

Anavex Life Sciences Corp. (NASDAQ:AVXL) Logo

The stock of Anavex Life Sciences Corp. (AVXL) formed a down wedge with $2.30 target or 4.00 % below today’s $2.40 share price. The 5 months wedge indicates high risk for the $107.18M company. If the $2.30 price target is reached, the company will be worth $4.29 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 4.35% or $0.1 during the last trading session, reaching $2.4. About 524,905 shares traded or 87.74% up from the average. Anavex Life Sciences Corp. (NASDAQ:AVXL) has declined 55.59% since May 16, 2017 and is downtrending. It has underperformed by 67.14% the S&P500.

Analysts await Anavex Life Sciences Corp. (NASDAQ:AVXL) to report earnings on August, 6. They expect $-0.11 EPS, down 22.22 % or $0.02 from last year’s $-0.09 per share. After $-0.11 actual EPS reported by Anavex Life Sciences Corp. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

More notable recent Anavex Life Sciences Corp. (NASDAQ:AVXL) news were published by: Nasdaq.com which released: “Anavex Life Sciences to Initiate Phase 2 Study of ANAVEX®2-73 in Parkinson’s Disease Dementia and Provides …” on April 17, 2018, also Globenewswire.com with their article: “Anavex Life Sciences Reports Fiscal Second Quarter 2018 Financial Results” published on May 10, 2018, Streetinsider.com published: “UPDATE: Maxim Assumes Anavex Life Sciences (AVXL) at Buy” on May 16, 2018. More interesting news about Anavex Life Sciences Corp. (NASDAQ:AVXL) were released by: Seekingalpha.com and their article: “Anavex Life Sciences Corp’s (AVXL) CEO Christopher Missling on Q1 2018 Results – Earnings Call Transcript” published on May 11, 2018 as well as Nasdaq.com‘s news article titled: “Anavex Life Sciences to Announce Fiscal Second Quarter 2018 Financial Results on Thursday, May 10, 2018” with publication date: April 19, 2018.

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of AlzheimerÂ’s disease, other central nervous system diseases, pain, and various cancers. The company has market cap of $107.18 million. The companyÂ’s lead drug candidates include ANAVEX 2-73, a Phase 2a clinical trial for the treatment of AlzheimerÂ’s disease; and preclinical stage to treat ParkinsonÂ’s disease. It currently has negative earnings. The Company’s preclinical drug candidates include ANAVEX 3-71, which uses ligands that activate sigma-1 and M1 muscarinic receptors to treat AlzheimerÂ’s disease; ANAVEX 1-41, a sigma-1 agonist that protects nerve cells from degeneration or death; ANAVEX 1037 for the treatment of prostate cancer; and ANAVEX 1066, a mixed sigma-1/sigma-2 ligand for the treatment of neuropathic and visceral pain.

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