Core Viewpoint - Axon Enterprise, Inc. (NASDAQ:AXON) experienced an 8.5% drop in shares, indicating a potential continuation of the downward trend due to broken support levels [1] Group 1: Stock Performance and Psychological Levels - The stock faced resistance at the $700 level in November 2024, a psychological threshold where traders often place orders [3] - Following the drop, many investors who purchased shares around $700 regretted their decision and aimed to sell at breakeven [4] - When the stock returned to $700 in February, a concentration of sell orders formed resistance at that level again [5] Group 2: Market Dynamics and Buyer Behavior - In May, the resistance at $700 was broken, leading to remorse among sellers who wished to repurchase shares at the same price [5] - When the stock dropped back to $700 in July, these sellers placed buy orders, creating support [6] - The recent break of this support indicates that the buyers who previously created it have exited the market [7] Group 3: Future Implications - With the absence of these buyers, sellers may need to lower prices to attract new buyers, potentially leading Axon into a new downtrend [8]