AXE is being 'caned' like a lot of the "graphiter's" from their...

AXE is being 'caned' like a lot of the "graphiter's" from their lofty heights of late last week as one would have expected(profit-takers in addition to the general market jitters). However, the immediate question is whether we have reached a good level to re-enter or would this be pre-mature?

The Hourly Chart below does indicate that today's low at 32c was one possible good low risk entry level basis the confluences of numerous T/A tools indicating support there. Now, because of the short-term timeframe we should be able to establish relatively quickly(within a day or two) if AXE has found a good support level near here OR we have to get down towards 27.5c 1st or even lower towards 24c/22.5c before significant support possibly comes in.

For me, my 1st 1/3 re-entry exposure comes in here.