Regarding your interesting explanation on AVB wrt various observations posted by several fellow traders, I'd like to say good work and to add my two pence worth of remarks as well.
Firstly, I also see the price of AVB at the lower channel of a linear regression channel, where support is likely to come in for a rebound sooner rather than later.
Secondly,and referring to the second subgraph in my chart above, by breaking down the directional index into the PDI and the MDI ( positive directional index and the Negative directional index respectively) where the market is composed of the positive forces (PDI) and the negative forces (MDI), we can see that whenever the PDI (red) is above the MDI(green) we have a case where the positive forces win over the negative forces, so that we have a rally in progress. We can see an example of this at point A where the red line is above the green.
Similarly, at point B, we have the negative forces ( MDI-green) winning over the Positive forces ( PDI-red ) and so we have a bearish pullback.
By means of this explanation, we know that the stock is in equilibrium when the negative and positive forces meet together...and where we need to observe whether the positive "wins" the tug of war or the negative "wins".
Now, fast forward to point C- our current point - and we see the PDI and the MDI are really close together and will likely come together in equilibrium in a day or two to resolve the direction of the "tug of war".
Since we are at the lower channel line, hopefully the PDI will crossover the MDI on the upside and thus bring about an improvement in prices soon.
In this respect, I support your observations made in your post, and thanks again for your viewpoints.
Just one last point - the PDI and the MDI here are not the usual PDI and MDI from your direction movement index indicator which carries lag, but are charted as lagless PDI and MDI.
Hope fellow traders will find the chart useful as well.
