1D: 1W: BIIB has gotten hammered and I feel it's over done. Since last gap down, it has been in a down trend with LHs & LLs. I'm hesitant to jump in until I see more technical justification. It is close to a support. I would like a retest and bullish candles before entering for a swing trade.
IBB, the tracking stock for the Bio sector looks ready to regain its upward trajectory. With the RSI and %R at very oversold positions it may be ready. We recently had a bounce off the 200ma, There appears to be consolidation in the blue box currently. Look for a move above the 8ema to enter long.
Needs volume for breakout but looks good and has room
4-22 Could It Be? Is this where we carve out a double bottom? If so then IBB (longside) MAY be carving out a double top. Remember, going long this is gaining short exposure in the bios. BIIB (Biogen) reports so be aware it could have an impact on this issue. Chart wise its all about an upside crossover of the green line. Feel free to follow on TWTR...
4-2 Speaking of a pullback to multiple supports? As long as this issue stays above the blue support lines all is well. This level also happens to be near the 50 day SMA. If you like these kind of chart set ups don't forget to follow me here or on TWTR at @AmazingPatterns For educational and informational use only, these are not recomendations , trade at...
4-1 Nice looking ABC to multiple supports. As long as this issue stays above the blue and green support lines all is well. This level also happens to be near the 50 day SMA. If you like these kind of chart set ups don't forget to follow me here or on TWTR at @AmazingPatterns For educational and informational use only, these are not recomendations , trade...
Biotech is all the rage, I'll play for a quickie short on this once it gets to 412ish, provided it puts on a reversal candle of some sort first.. It'll be highly technical, you have to be very surgical, it's like picking pennies in front of a train, it's like cheating death, and me likey. A better way to play this is to sell some call spreads once it gets to 412...
10-30 For those interested in buying support, especially know considering how short term extended things are these days. Its all about the blue line. It also helps define ones entry risk here. If buying here you are buying 20 points away from a support zone (thanks anyway I say). Given this issue is tagging a trend channel resistance zone? That is all the more...
After completing the bearish bat (green) to the tick possible bullish shark and bat completing at same level 280.83 for along, if the PA reaches that level.