Short here on the next 3 day new low. XBI weekly losing all momentum with dying volume $LABD $IBB
Biotech past week has been in a downtrend. Short below yesterday's close. $IBB $XBI $LABD
XBI getting ready for a move after some super healthy consolidation, bulls need to see a break of the 101.05/101.06 double top and a break of RSI resistance for room to the upside. Earnings from some larger names will like help XBI to pick a direction soon. LABD and LABU will be on my radar this week. I will be much more likely to play a break if overall market...
Nice double top, retrace to the bottom of the channel, potential full breakdown depending on the broader market over the next month.
Looking to go long with LABU. Looking for a retest of the lower trend line. Previous times it bounced and retrested the break. BUY limit order at $65.50
LABD, the 3x inverse ETF of LABU is showing a break above previous highs on the weekly chart. I expect continues move higher. General markets are consolidating which should add to further pressure on the IBB. 1st target $6.
who has the insight? Option A: crazy breakout to the upside Option B: Big ol' Bear! (growl)
I'm reasonably bullish biotech but I think it needs to cool off a bit.
I've been in an out of LABU over the years. I rode it up recently to the upper trend line. I now see a pullback complete and a chance we are breaking out of a bull flag higher. Stop anywhere below the flag (dotted red lines) should break above the upper trend line and move higher. IMHO
We are humans and before going forward we like to test and retest ...This time is not different and the momentum on the daily is starting it is transition into negative territoty + bearish macd crossover... I open a long position in $labd yesterday but the drop in $xbi will not come until next week..Friday should confirm the berish trade setup and i will be...
Looks to be an ascending wedge. Measured move, target, predicted price path, Divergences, and fib levels included. This week's Biotech Sector Video Analysis: www.youtube.com
Technical retrace on XBI pop. If vote does not go through expect a fast drop to trend
Going long on the Pharma sector. Anyway you slice this chart its a breakout.
XBI S&P500 biotech index may be in another rising triangle, we see price action at top of triangle for possible short entry. Instrument LABD x3 can be used for shorting this index.