This is still coiling really nicely. The Monthly is bullish it had a bullish harmari followed by another bullish candle., the Weekly had a bullish engulfing followed by a doji in star position....On the Daily, lots of consolidation the past 2 weeks, MACD is looking better, we are sitting right at the 50. Need a close above 91 with volume to confirm. I see next levels of resistance at 96ish at the 100SMA, and an open gap at 101. I feel this would have broke already had Valiant not pulled the whole IBB down this week. Both are major holdings in many ETF's/Funds
Very Range bound, Support on the weeklies at about 87. Looks like a squeeze is starting on the daily..4 red dots on my indicator. and the stochastic seems to have a divergence. Does that mean anything?
Bulls need price to close above 90 and hold. However, momentum and stochastic are pointing down. I wouldn't play this to the downside, since the target is only 5 points away from prior support at 82. We need a reversal signal for the bulls. so watch and wait.