TA discussion, page-1210

It looks very bearish with the selling this last few days but IMO the selling isn't normal market forces at play which is usually as a result of some bad news or change reflecting a serious change in market perception, sentiment and momentum. For example WOW just announced out of the blue a 35% cut in profit or revenue, can't remember which, but this was enough to seriously dent sentiment.

AJX doesn't have a trigger like that, the news has been good for quite a while, maybe a minor glitch with the 4C for some. Some of the stats recently suggest that a couple of brokers have been selling down for a few weeks now and the patterns seem to bear that out. Hard selling for 5 or 6 days followed by a breather before resuming. The buyers have come back after each bearish episode. A good starting point for a profit taking selldown is an overcooked high and we have had 2 of those recently, August 19 and September 22.

I could be wrong and we are seeing the beginning of further bearish price action as per the candlestick pattern and one can never be sure but we have to wait and see over the next couple of days.