AVZ chart, page-12886

Hmm, those upper CS shadows you circled look like selling pressure to me and their occurrences also fit in with the following chart based on the Wyckoffian point of view, where the CO - Composite Operator/Market Makers are swinging their weight around to hold SP within a Trading Range, after a BCLX - Buying Climax has occurred.
In that chart I also used another Wickoffian way to possibly identify Throw Overs by using Reverse Trend Lines and channels, but that's probably
just taking TA to another level, which needs to be dismissed out of hand as it doesn't fit the multiple positive announcement fundamentals!