We have an evening star type candlestick pattern peaked right on the 200 SMA (thick white horizontal line). Then today we closed under the 8 EMA (orange line). Normally you should exit your position based on this. However, today's low touched the 200 EMA, 20 SMA, and the top of the scoop handle, then price bounced off that level a little.
So, I'm going to hold the position and see if we continue down next week or reverse back to the original upward movement from the bullish Scoop pattern.
If we do go back up, there's a good chance, in my opinion, we'll penetrate the 200 SMA. Look back to around 9/21/16. See how price came down to the 200 SMA around 9/21/16, then consolidated, then bounced off it to the upside. Then on 9/23/16, price reversed, and went down and through the 200 SMA. Then it slowly came back up to test the 200 SMA for resistance around 10/27/16 before making a nice drop to the downside. Since patterns often repeat in the market, we may do the same thing but in reverse.
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