What if someone had told you to buy LLY at $50 in 2012? AVXL might be the next.
Elliott Wave Analysis | AVXL CMP: 9.24 | Dt - 11th Nov'24
Simple Speak
It’s rare to find a stock on the brink of a massive upward move—a stock with all the right ingredients to reach its potential. This post discusses one such candidate.
Are you someone who looks at giants like Eli Lilly and wonders, “What if I’d had the foresight to buy it in 2012 when it broke through a major resistance level—and held onto it?” (See Chart #1 below.)
We’ve been monitoring Anavex, and it has now broken past a significant resistance zone, reinforcing our confidence that the market believes in the high success potential of its drugs. If this proves true, then based on our Elliott Wave analysis, it could become a multi-bagger over the next few years. See details below.
«Just a cool stock - Not a Buying Recommendation»
Chart #1 - Eli Lily, 2012
When it broke through and started its Wave 3 advance.
Stock in focus is AVXL
Anavex Life Sciences, a clinical-stage biopharmaceutical company, is actively developing treatments for neurodegenerative and neurodevelopmental disorders, including Alzheimer's disease, Parkinson's disease, and Rett syndrome. Their lead candidate, ANAVEX®2-73 (blarcamesine), has shown promising results in clinical trials, particularly for Alzheimer's disease and Rett syndrome. Key highlights
Innovative Pipeline: Focused on developing treatments for neurodegenerative diseases, including Alzheimer’s and Parkinson’s, targeting high-demand markets.
Cutting-Edge Technology: Utilizes SIGMAR1 receptor activation, a novel approach that aims to restore cellular homeostasis and protect against neurodegeneration.
Positive Trial Results: Recent clinical trials show promising results in cognitive function and biomarkers, suggesting potential effectiveness.
Growing Market Demand: Increasing global prevalence of Alzheimer’s and Parkinson’s diseases offers substantial growth potential.
Chart #2 -AVXL (Long Term)
If this EW wave count is correct, then AVXL has just started Wave 3 of Wave 3, which typically indicates substantial upside potential. We wouldn’t be surprised if, in the years to come, AVXL surges past 100—and eventually even 1000!
Of course, it all depends on the performance of their drugs. While we can’t predict the future, the current wave count suggests that the odds of their success are high.
Chart #3 -AVXL (Mid Term)
This chart captures are most preferred wave count. Per this, Wave 3 (red) of Wave 3 (green) has just started. There will pullbacks and corrective waves on the way, but the odds are high for a massive upside.
Chart #4 -AVXL (Short Term)
The massive resistance band we were monitoring was broken last week, with what looks like a retest. One can wait for a pull back to assess strength and also find an opportunistic entry point.
