$ATXI (REQUESTED ANALYSIS - I hold no position)
Hi, @assafff123
Ok so, personally, I do love Biotech stocks... I don't know why but I love them.
The bad news is that there is no support since 2.22 and it broke below that I cannot tell you how low it will go - there's just no support.
There are TWO gaps that need to be filled to the UP side (look for the red arrows)... and even if just the first gap fills for now the up side is 108% --- but again I don't know the timeframe until it finds some kind of support... are you comfortable holding? Biotech stocks require a lot of patience.
Since there is no support, a fib retracement would put your next place to average down at 0.76
RSI is entering a double bottom - and that is good...
I do see a tremendous upside but I can't tell you with any certainty what the timeframe will be... just keep an eye out for the next support level... and add there...
and reach out again if you want me to look at it again in the near future...
Ok so, personally, I do love Biotech stocks... I don't know why but I love them.
The bad news is that there is no support since 2.22 and it broke below that I cannot tell you how low it will go - there's just no support.
There are TWO gaps that need to be filled to the UP side (look for the red arrows)... and even if just the first gap fills for now the up side is 108% --- but again I don't know the timeframe until it finds some kind of support... are you comfortable holding? Biotech stocks require a lot of patience.
Since there is no support, a fib retracement would put your next place to average down at 0.76
RSI is entering a double bottom - and that is good...
I do see a tremendous upside but I can't tell you with any certainty what the timeframe will be... just keep an eye out for the next support level... and add there...
and reach out again if you want me to look at it again in the near future...
YouTube Channel www.youtube.com/@spyderqueentrading (Almost DAILY updates, come play)
I am not your financial advisor.
I am not your financial advisor.