OKI MICROLINE 520 Matrix Printer "420 alarm light" Questions

420 printer and it prints for few seconds then it shuts off and the alarm light is blinking. not sure what is wrong, but when i tried to move the ribbon along with the head down the its path, it seems

...alarm light flashing machine working fine, then just stopped, "alarm" light flashing, turned machine off and back on, unplugged and re-plugged power cord - still 'alarm' ...

...420 printhead not printing aligned. printhead starts printing at proper position then after each line is completed starts printing further and further to the left until printhead has no more room to ...