average down

Normally I would not recommend you average down and I do not make recommendations I only write what I see.

In your case and based on the huge fallout on ABS and the current news in the market for the stock I would say you would be 99% safe in averaging at these levels. If you were to buy 20,000 shares at say 145 your break even would be 2.25 and I believe we will hit this level over the next couple of months.

I use gann studies for my trading and do not read AR's unless I am looking at a long term hold.

I believe ABS is good buying at these levels and feel the market will give it support at this level and we should see it heading up to around 186 in the first week of June and then it will retrace a little however I believe we will see around $410 by the second week of August. That is if there is not to much talk about the US going into recession which I do not believe will happen or will be for to long.

Your capital is the most important thing in the market and if you lose your capital you are out of the game. No matter what you are trading you should have a stop loss in place.

Everybody loses money in the market but you have to cut your losses and let your profits run.

If you only study a few things from gann you can make a fortune.

Anyway good luck.