$XBI Key Levels, Analysis & Targets - Request

AMEX:XBI   SPDR Series Trust SPDR S&P Biotech ETF
$XBI Key Levels, Analysis & Targets - Request

Ok, @FlashingGraphs so these would be my targets fo XBI . It sounds like you don’t have an open position yet… I would start around 78.06.
Then if it keeps selling off, then double your position at 62.94
And if it still continues then double again at 45.89. If those 3 hit then you can expect a solid 50% swing from there…

Because of the way the Biotech sector moved in the past two years I could definitely see it making a 3 standard deviation move down like this, in correction. Don’t go in too heavy until you see a clear reversal sign… (such as macD crossing back above 0, and consistent higher lows)
And with that being said I still would start building from Target 1. I hope this helps.

GL & happy swinging…

Hardcore Swinger... Purely Technical... Just riding these crazy waves... I am not your financial advisor. Here's a link to my training video

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