1. AXON shares dropped 8.5%, breaking crucial support levels. 2. Psychological trading impacts AXON around the $700 pricing level. 3. Some investors regret selling, creating potential sell pressure. 4. The absence of support could lead to a new downtrend.
The breaking of support levels often leads to further decline in stock prices. In prior instances, similar breaches have resulted in sustained downtrends.
The article highlights significant psychological trading factors impacting AXON. Breaches in support levels substantively affect investor sentiment and decision-making.
Short-term price actions are primarily driven by psychological factors. Historical patterns suggest quick sell-offs post-support breaches are common.