$AVNT - SHORT Setup
Entry: 0.3600 – 0.3700 (On a clear rejection at the resistance zone following the pump)
Target 1:0.3300
Target 2:0.3100
Stop Loss:0.3800 (Above the swing high)
My View:
AVNT has experienced a strong pump of+39% in 7 days, with a significant portion of that gain today (+10.4%). However, this rally is occurring within the context of a catastrophic 90-day downtrend (-68.6%), making it look like a classic dead cat bounce or short squeeze. The price is now approaching a heavy resistance zone between $0.36 and $0.37. The volume spike suggests potential exhaustion. Such violent retracements in bear trends are typically sold aggressively. I'm waiting for price to show a clear rejection in the $0.36–$0.37 area to enter short, expecting the primary downtrend to swiftly resume.
Bias: Bearish below $0.3700. A break above $0.3800 would challenge the immediate bearish view.
Disclaimer:High risk. My plan. Not advice. Trade your own risk.
