With previous lows holding support at 1.08, MBOT long here at 1.09. A low risk trade with stop at 1.07. Risk 2% with a possible pop coming in the near term for a 10% plus gain.
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.
Labu beginning of september had a nice break of prior highs. we have spent the last couple weeks consolidating over that recent high
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
As the entire Pharma sector seems to be moving higher, JAZZ appears ready to join in. Finding support at the 75sma it is now moving away from it higher. Watch the double top, a break above that would be bullish. 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
XBI, LABU, BIB should slide to the bottom of the channel until End-July. See high moving-average divergence, reconvergence and channel pattern. Short unless something changes.
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.
Triangle break out to the downside going 1.618. Following the head and shoulders top