breakouttttt, page-13

Jason, this is what I found that I didnt like about AVX's chart. Mind you, it could definately still hit your 20c from here regardless. The volume on all the big volume bars marked with an "X" were people dumping this stock - especially note the big one right in the middle. Also today's candle finished with a long upper wick. Thats extremely bearish short term. I would be surprised if this is a false breakout. Also it got heavily sold down on the close so I was happy to take a half cent loss and get out.

Also on the chart Accumulation/Distribution is diverging with price. Price is making higher lows, while Acc/Dis is making lower lows. Ive marked the divergence with two black lines on the Acc/Dis chart. Someone is dumping this stock. Also you can see the 200 day MA that it is coming up against. That in itself is heay resistance, and I can see resistance from a previous high at around 17c. So IMO the risk/reward ratio for this one wasnt right for me. As I say, this is purely a technical analysis, if theres news in the wind it may run but that would purely speculative - much like a gamble.

[URL=http://img34.imageshack.us/my.php?image=avxaxpricedailyandvolum.png][/URL]

[URL=http://img34.imageshack.us/my.php?image=avxchart.png][/URL]