this has been playing out perfectly. Below daily cloud soon.
Crossed back into major downtrend and daily cloud bearish
(I like looking at the daily here.) Nice recovery after the brutal sell-off eight months ago. If 7.99 becomes support I believe there is a ton of room to the upside.
Neat set-up here. The price got pushed over the 200ma by that little uptrend. There should be some room to the upside if this holds.
XBI etf telegraphs well
Position trade in IRA here from beginning of month at 50.62.
A break of this neckline and my target changes to bottom of monthly cloud
A move to $40 seems to be in the cards
Need a neutral to good close to the week tomorrow.
Chart looks a bit different from $IBB with defined channel. Looks like it would be easier for this one to pull back farther though.
If this falls back in triangle, watch for a test of $50 and 50 day moving average.
Let's see if it gets a second wind.
Close matters more today but looking good.