We recently noted that Aerovironment $AVAV was recovering but faceing key resistance around $80 per share. Aeroviroment, Inc. (AVAV) - Recovery Approaching ResistancePrice eventually found resistance just under $80.AVAV Daily Chart(click to enlarge)Bears in Charge:- Looking at the daily chart, we can see that price respected a falling channel resistance, which is a bearish sign.- It also respected the 200-day simple moving average (SMA) as resistance, also signaling a bearish market.- Finally, the RSI held under 60, reflecting maintenance of the prevailing bearish momentum.- The 1/30 session candle might also be a bearish signal as it breaks below the month-long rising support.- If the prevailing bearish trend since September continues, we should anticipate downside towards $56-$60. - I think the most aggressive bearish outlook for now should be limited to the $50 pivot. After all, the long-term trend is still bullish, and $50 represents the middle of a 2-year consolidation. - This consolidation area should provide strong support against the current correction.