Was going to post this idea sooner, but didn't and now regret it because its essentially almost happened fully.
But better late than never so here we are.
XBI is a short.
It did a head and shoulders with a bear flag/wedge. It broke down from the wedge today and is on its way to its monthly low targets.
Based on a prob assessment, high probability of hitting the first low target at 77.28 and an equally high chance of seeing the second monthly low target of 73.10 this month.
73.10 is kind of where the probability caps this at. From there I would assume there would be consolidation and maybe a slight bounce and not necessarily seeing the 68 TP.
That's it!
Thought I would get a head start on posting some weekend ideas.
If you have any requests, feel free to leave them in the comments. I like to try and experiment with different stocks.
Take care and trade everyone!
But better late than never so here we are.
XBI is a short.
It did a head and shoulders with a bear flag/wedge. It broke down from the wedge today and is on its way to its monthly low targets.
Based on a prob assessment, high probability of hitting the first low target at 77.28 and an equally high chance of seeing the second monthly low target of 73.10 this month.
73.10 is kind of where the probability caps this at. From there I would assume there would be consolidation and maybe a slight bounce and not necessarily seeing the 68 TP.
That's it!
Thought I would get a head start on posting some weekend ideas.
If you have any requests, feel free to leave them in the comments. I like to try and experiment with different stocks.
Take care and trade everyone!
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