123Tom's TA study group

[Citrati]

Nice to see the activity here. Been traveling the last almost 6 weeks. I need to catch up. Nice news and move from AVXL.
I'll try to post a couple charts tomorrow mid morning or afternoon on XBI and AVXL, as I have Dr. visits in the morning. Gonna miss the opening.
Just from a price and market structure point of view, odds of testing or filling the recent gap IMO are stronger than running up. Todays closing candle is not a vote of strength. Tomorrow will tell more. AVXL now has a double gap which most often is a sign of weakness. Given that I am not thinking there will be much additional news in the near term this would be a place for price to hold and create a base above the 50period. Tomorrow will help see if todays rejection at the 200day will hold. Price holding the 4ema above the 8ema will be important to the upside. Looks like we will have 13/50 up cross which is positive. To me it looks like the chart itself is setting up for either a drop and fill or a battle for support. Oh, one thing to note is that the ADX lines are beyond the normal distance apart and must revert to the mean soon. That is just a quicky and not comprehensive. But, ya'll can see the issues.

https://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=0&mn=6&dy=0&id=p13259612160&a=1541237710&listNum=1