With a close above 33.46 look for 42.10

XNCR has traded above and below the long term swing point of 30.00 (a major Gann square) for 3 months now. The 200 day moving average has contained it on the upside and each time they trade below 30.00 they have held 38.2% back to the 19.35 low. The last low at 27.38 had one close below 38.2%, but was right back above it the next day and this rally has hit the 200 day again. The low on 3/17/20 had one close below 61.8% of the all-time high and low and then quickly got back above it. The target on a rally from a 61.8% retracement based on the 61.8% rule, is 61.8% the other way and this is 37.50, but with all the sideways building that they have done, it looks like they should go for more than that once they can get a solid close above the 200 day average at 33.46. With a solid close above 33.46, this will become the long term swing point and you should look for the next major Gann square up at 42.00 and 78.6% of the move at 42.33. On a huge move up, the cluster of Gann square remains between 53.08 to 53.35. With a failure to close above the 200 day and a close below the long term swing point of 33.00 look for the major Gann square at 22.00.

XNCR Daily