AXL is down from entry and has tagged the previous weekly entry that sent price down 32% and then up 500% (47 cents entry to 32 cents low, and finally a rally to $2.7). Price has retraced this move back to the previous entry of 47 cents AND made another weekly entry at 57 cents.
Targets based on the risk from that entry have been drawn.
Yellow Stop loss of -20%...
#AXL
The price is moving within a bearish channel pattern on the 4-hour frame, which is a strong retracement pattern
We have a bounce from a major support area in green at 0.5000
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum, upon which the price is based...
