Replies to post #11120 on 123Tom's TA study group

[Citrati]

I'll get to the downside targets sometime this afternoon or evening.
This is a chart I like and use for helping with purchases and sells of trading shares, especially sells. I always confirm with a 60minute and complete 6month daily evaluation of support/resistance and targets.
Happy to answer any questions.
First I look at the ema's.
Second, I evaluate the close in relation to the high and low. Gives a good picture of the trend of strength or weakness in price.
Third I look at indicators. RSI for momentum. Standard MACD and then fast MACD and what price is doing relative to their movement.

https://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=0&mn=1&dy=9&id=p24033382887

[Citrati]

Had some time.
First downside targets.
This is based on if the 200day currently at 7.91 does not hold.
1st target. Does the blue 8ema hold price?
2nd target. Does the orange 13ema hold price?
3rd evaluation. What happens in the area of market structure weak support/resistance zone? The bottom of that zone is 7.20ish and the only remaining significant support is the 50period currently 7.10.
It doesn't seem like the algo bots are paying any attention to the 65ema. On big board stocks they can alternate using it or the 50period or stick with one. Then 6.50ish comes into play.
We shall see pretty quick by midweek if news plays a role or cooling turns into a retrace.

https://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=0&mn=6&dy=0&id=p16207972301&a=1553294319

On an 18month Daily chart 7.54 is a potential line in the sand support line give or take a few cents IMO.
Also, whether or not the Bottom of that nearest lower VbP bar is not confirmed resistance below it.

https://stockcharts.com/h-sc/ui?s=AVXL&p=D&yr=1&mn=6&dy=0&id=p90622777284&a=1548483515

Right now odds favor testing at least the 8ema. All IMO

[oldmystic]

Here is a Daily chart of XBI I began annotating several weeks ago. DeMark Sequential 13 registered on 10/23 with an ensuing price flip on 10/31. Trend line projection to the current price level was derived by taking the distance below the trendline (8.5) and adding it to the point at which the trend line was breached. This level coincides with the .618 Fibonacci retracement of the previous decline from 90 to 66.
A DeMark Setup 9 registered Friday. A close within next 4 days below the close 4 days prior will trigger a price flip.
https://invst.ly/12ltos