Is this a dead cat bounce or are we finally bottoming out on $AIA ?
Seriously look at the daily chart. This thing has been getting hammered for weeks now. We are sitting way down at 0.08384 which is almost 80% off the highs. The selling pressure seems to be drying up a bit because the candles are getting smaller but there is zero buy volume coming in to save it. We are just bleeding slowly. If it breaks below this 0.08288 support then it is probably game over for a while. I need to see a solid daily close above 0.092 before I even think about touching a long here. Right now it is just a falling knife. Staying patient on this one.
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Is this a dead cat bounce or are we finally bottoming out on $AIA ?
Seriously look at the daily chart. This thing has been getting hammered for weeks now. We are sitting way down at 0.08384 which is almost 80% off the highs.
The selling pressure seems to be drying up a bit because the candles are getting smaller but there is zero buy volume coming in to save it. We are just bleeding slowly.
If it breaks below this 0.08288 support then it is probably game over for a while. I need to see a solid daily close above 0.092 before I even think about touching a long here.
Right now it is just a falling knife. Staying patient on this one.
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