took a small position on labu at 7.77, looking for 83.50 then short off of D leg
seeing bearish pattern set up, a pop then retrace near the .236 fib line
If the handle resistance is broken, it could have a nice rally up to at least $77. Lots of wedge bottoms forming too which makes this set up even more bullish in my opinion. However, the indicators look high on the 4 hour, so they might need to "recharge" before a breakout happens.
I took a small CALL option position this morning. Got the 5/13 $8 calls for $1.20. Now $1.65. BIIB and PFE both report in the morning.
IBB bounced from the green pandemic support zone last March but have came back down to retest this zone. IBB has found support exactly on my GANN FAN line for several times before it breaks down & retested the violet downtrend line & bounced, making a reversal with a long hammer candle. IBB may close today above my GANN FAN line support confirming reversal ....
The SPDR BioTech ETF $XBI has been an underperforming for a long time. However, there's clues that could be changing. There's a nice positive divergence on the RSI. The down trend line was broken after several failed attempts. The stock is above the 50 day MA for the first time in over a year. Both the 20 SMA and the 50 SMA are curling upwards. RSI is positive. I...
As expected SNP Biotech sector is in the green and this has been reflected in our last update with every new and emerging biotech stock that we reviewed being convincingly bullish. We have and end to a zig zag formation here, this a corrective X Wave or a start of a new impulse ensures. We shall see which shall transpire in this instance. We are not in the...
Looks like $LABU bottomed. XBI and LABU are primed to run from here with a potential reverse split for LABU. I am not an expert and please do your due diligence.
Considering bullish paths based on support and resistance.
MRNA has gone on an absurd run, and the technical setup looks ripe to the short side. It's all over WSB, looks ripe for a slaughter. There is upside risk with a possible FDA approval so trades have to factor that in.
As far as popular reversal patterns go, ascending triangles are no bottom of the barrel. Although I still am a new trader, I have been committed to the market for just over 1 year. With that said I have been watching LABD/LABU in proximity of market trends. When the overall market is bullish I trade LABU with success. When Market is bearish I trade LABD with...
Raise the target price. The next target price is 125$. +60% 3 waves are stable.
The target price according to the Fibonacci level is $105. Generated from the first waveform.
but I think we finally have a good setup.
Is there any particular setup people would like to see me posting consistently? I don't want to leave people behind when I start doing something different. And you would be helping me too because it's always beneficial to make sure the fundamentals are solid. If you have a concept you'd like me to work through please leave a message below. No one is asking me to...
Super bullish $LABU By Wolfe waves 0.5 is the best level for huge longs
It should break out this week - or next Monday after Friday's Option