XBI Speculative Long Play

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We are finally starting to see some bullish indicators on the daily for XBI             . Of course with bio, the swings are long and hard to predict bottoms, so this idea/play is pure speculative. Looking back we can see similar RSI divergence signals and MACD crossovers as to what we can "potentially" see here in the next couple of days.

Any bounce off the 55.95-ish area would be pretty bullish for a short term long swing, using possibly LABU             . It'll be interesting to see what happens in the next couple of days...
Comment: Buy range hit today but unfortunately I was busy with gold & GDX so I didn't really get a chance to look at the action on XBI today. With that said, we got a doji finish on high volume which is a really bullish indicator that we are near a reversal. My strategy for Monday is to buy any dip we see in the morning, or if we gap up, buy the gap-fill using LABU of course.
Comment: Entered LABU today and got stopped out. I'm still watching this closely but if the XBI support @ 55.80-55.90 doesn't hold, consider this chart broken.
Comment: I was considering reentering LABU at the close but saw that the XBI 5min chart had potential RSI divergence. So I'm going to do the same as I did Monday (and hopefully it works out this time). I'll buy the morning deep or if we see a gap up in the morning, I'll buy the gap fill. I don't see the FED meeting impacting this too much tomorrow.
Trade closed manually: Chart broken. No long play here yet.
Do you think we can buy bio stock after the election? Thanks.
xsubtownerx ice_holly01
No idea bud. Depends on how the election goes I suppose.
ice_holly01 PRO xsubtownerx
Thank you. I have LABU and already in deep loss.
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