TA price target 1.06 A2M, page-576

As predicted support at 1.40 broke down with a gap down closing near the low of the day on a long red candle the bearish wedge on the weekly has strengthened

Technical traders will view the break of support as significant an no doubt shorts will be adding to positions as the chart looks like the gap I spoke of at 1.26 will get filled

Just 11 cents of the first major gap now sentiment weak the fact that peers in the industry were green on another strong up day Is a big red flag in my view

If 1.26 comes an breaks the second gap in the third wave down will open up the gap at 1.16 which brings us to my Target area of 1.06

I feel given the stock is falling when the markey has been roaring that may be conservative an the 61.8 retracement level of the mid 90 cents area is now a strong possibility if the gap at 1.16 comes

Next line of support is 1.32 breeches that an it will go straight to the gap at 1.26 the chart on every indicator in full blown bear mode further weakness is inevitable TA Wise

I also feel people are expecting to much about earnings as if the meet guidance which we already know about the stock will not break this very strong down trend

If they beat guidance it will only take it up briefly an fall back as those caught up higher exit the stock so no real catalyst either way in my view

The General market is hot an my systems are pointing to a pull back soon so that won't be helpful either

Shorts are in control in my view Id be intrested to see how many short sales went thru last few sessions

GLTA