$XBI Biotech ETF. Looking bullish

Long

SPDR Series Trust SPDR S&P Biotech ETF (AMEX:XBI)

Updated

AMEX:XBI SPDR Series Trust SPDR S&P Biotech ETF

Chart Patterns biotech biotechnology

chartpattern biotech biotechnology

Biotech has been hammered since Feb 2021. This ETF is still down 50% + from it's all time high.
It formed a double bottom and now a small bullish flag.
Target is 97. Longer term 122,134

Trade active:

snapshot

Comment:

We move higher on support, or break back into the channel and we get stopped out. Either way, the RR on this trade looks good.

Trade active:

Adjusting the flag pattern. Bull flag still valid and trade still active

snapshot

Trade active:

snapshot

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.