There is one useful way to determine when a trend is over and that is using a 50% "speedline" of a move. The decline from $400 in $IBB, the IShares Nasdaq Biotechnology Index Fund back in July 2015 and then tumbled 40% to $240 on February 9th, 2016 and later retested $240 on June 27, 2016. The mid-point of that decline is $320 and a line drawn from...
Retest of 72.6 level Time the corrective wave ( range from ~6.7% - 13%...play it safe at 7.5% increase from entry)
get in around 1, sell in the green
Tkai massive upside potential. In other words, buy between .99 and current price 1.06 and aim to get out in the 1.2's. Current price is the high point of first wave up (the XA)..price descended appropriately (1--> .618) for support, and moved higher between the 1.21 and 1.41 exetension of XA. The following downtrend in price should suggest a move upwards to at LEAST 1.2s.
One more retracement up followed by a downtrend would make fib numbers work for GALE price action. Food for thought
It may already be too late to cash in on BSPM
P to consolidate @ .11 before next major move?
With Section 8 Rules, I don't expect the shares to fall much lower than they already have. But, with Fib Time Trend, it looks like shares may not rise until at least Oct 3, maybe early next week? But with the possibility of being removed if shares fall to 6, I can't imagine them falling much more than another penny or so to around 9 before taking off. What say ye?
SPHS is in a multi-year ABW and with the latest partial decline, in addition to other important fundamental and technical factors, it will likely breakout upwards - To infinity and beyond!!
RECENTLY most of the biotech companies are doing bad but somehow this ETF is going up. I saw weakness in technical analysis of monthly charts but weekly and daily needs to go down before shorting. Think this IBB bull will be ashort lived and once broken it will be a free fall zone. Leap options for short side will be a good bet. Don't go short yet but a good...
Fundamentals : Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines worldwide. Ligand Pharmaceuticals has a compelling business model that offers higher than average return with lower than average risk. Ligand's P/E of 8 is cheap as I...
Should the Fed do nothing to defend (devalue) the US dollar in the global currency wars, or worse, raise rates by the September 2015 Fed meeting, the economy will likely crash. Even if the Fed does nothing, the prospect of rate hikes amid a slowing US economy as we enter the weakest 6 months of the year (May - Oct) could be enough for a large correction. If the...
The price action recently shows accumulation and there is a recent high volume bullish spike. A noted biotech investor has increased position in this company lately. There is an inverted head and shoulders reversal pattern on the chart.
If you take a look at this chart there is a potential breakout forming with several bullish indicators. Cup without handle technical formation, MACD crossover, 200 day and 50 day MA converging, new patents approved, and a lot in the pipeline, take a look.