current correction, page-10

My main concern was the extremely bearish chandlestick yesterday - not a shooting star, but has the hallmarks of a bearish reversal (albeit perhaps shortterm).

While the fundamentals may arguably be different this time round, the recent spike is potentially similar to all the previous spikes that failed to result in a sustained lift off.

I'm waiting for the 0.155-0.165 gap to be re-tested to see how strong is AVX at these levels before digging in for additional shares. If AVX breaches this gap, technically, there is no reason for it to fall back further, at least until more solid fundamental information is released.

However I could be wrong, and the 0.155-0.165 gap is not re-tested at all which would imply significant technical strength.