Looks like FB has an bullish pennant on the daily. Target could be the 0.618 fib.
Small bull flag sent the move above bear channel, true?. I think so.
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...
May come to test lower support 8p area Still long for the massive major pattern.
Many were calling for inverted H/S since Jan, rules are finally coming together for confirmation. BWTFDIK
Waiting for entry on trigger. Preferred to be closing below 68.73 on the daily or below 69.78 after 7th December 2015. Needs permission from S&P. < 2069. Same double top pattern seen too, will probably move only after NPF or FOMC.
How far can this ponzi really go? Will biotech change the world forever? Is it really different this time? Short it after it breaks the curve. This could go up for another 42%, who knows how many greater fool are there still.. • BIS UltraShort Nasdaq Biotechnology 2x: etfdb.com • BIB Ultra Nasdaq Biotechnology 2x: etfdb.com • LABD Daily S&P Biotech Bear 3x...