AVZ chart, page-11672

The Smart Money or CO seems to play this to perfection one step at a time ...


BC Buying Climax, this event typically arrives with wide price bars and exceptional volume increases.
AR Automatic Reaction, a sudden and sharp retracement of price large and unexpected.
ST Secondary Test, a price momentum is a result of the run-up into the BC. Momentum is a condition that allows the C.O. to sell stock.
UT Upthrust, the UT is an extended form of a Secondary Test. An Upthrust results in a new high above the BC peak. Breakouts during distribution bring in the momentum traders which are a source of demand the C.O. can sell shares into. Therefore, a UT will not linger above the Resistance area for long before returning to support - 57.5c or below.
Next step ???
UTAD Upthrust after Distribution, this last gasp rally from Support occurs occasionally, and will drive the stock price above Resistance and the prior price peaks in the Distribution trading range.