If the 5.75 gap doesn't fill then it will likely become a runaway gap going forward.. It all depends on news, market [meaning XBI] and how the support inside the blue box plays out. In general declining 50periods tend to be weak, however so far today a nice bounce. The market structure zone as noted by the VbP bar is potential support above the remaining gap. Top of the gap is 5.875 while bottom of the VbP bar is 6.12ish so there is room for an overshoot downward without filling the gap if that is support. Indicators are not super thrilled about turning back up yet. Still playing out the neg div on rsi, stoch and fast macd. That said, buying as indicated through the money flow charts is positive though they don't update til end of day and if current status today remains they could further weaken. Closing prices today and tomorrow will tell a lot about confirming more down. News or no news will play the biggest role outside of a buying surge. All IMO only.
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