I'm not a fan of biotechs; they tend to come with a lot of BS that ruins patters. But I like PTX here, cautiously.
Maybe time to jump back in with LABU. The pharma 3X is looking ripe to move higher.
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.
Current and potential trend scenarios: Decreasing volume on the monthly in recent months currently looking to break upper trend line for a breakout. A break down on strong volume toward the lower trend line may break for a considerable pull back.
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...
Last time i miss the entry because i did not complay my rules of eliminating noise... I did not analyze the big picture first... This time is different and i am ready for a short position and get disscount iN the process... Levels to watch: 77.02,75.69 -73.49
4 HR MACD and RSI room to grow
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.
Decided to deploy a slight negative to neutral bias August18th Iron Condor option on XBI. 30 Day IV rank 84.952% The strikes are as follows. The Sell side is a 10 point spread of 74(.24 delta) Put / 84 (.30 delta) Call. The buy side options at the 72 and 86 strikes respectively. Premium collected was .90 cents per share which and will look to cover position...
NASDAQ:PIRS catching some short covering perhaps near end of the day, sending it up near the critical 5 area. Low 4s held very well after a month long run and consolidation. Expecting this to breakout over 5 barring any extraordinary news; not following company details but certainly ripe for a catalyst. Wouldn't be surprised with upgrade ratings or...
Technical retrace on XBI pop. If vote does not go through expect a fast drop to trend
XBI UPTHRUST CAUGHT A LOT OF PEOPLE WITH THE GUARD DOWN BUT BEARISH DIVERGENCE WAS A WARNING FROM THE START.. Everything happen so fast when xbit started to plunge after IDMC recommends ending late-stage trial of colorectal cancer treatment and this event that happened at 2:40pm on friday overturn $xbi at the same moment and now is going back to 400 EMA ...