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About iPath Bloomberg Cocoa Subindex Total Return SM IndexETN
NIB, price exceeded its 50-day Moving Average on Feb. 16, 2021This price move could indicate a change in the trend, and may be a sell signal for investors. Tickeron's A.I.dvisor found 51 similar cases, and 41 were successful. Based on this data, the odds of success are 80%. Current price $30.14 crossed the resistance line at $30.15 and is trading between $30.1
COCOA is tapping on the resistance of recent trading rangeNIB (cocoa ETN) is pushing against the top of the trading range. Cocoa has been consolidating for around two month now. Since I am long term bullish on agricultural commodities such as cocoa, if/when the top of the range is taken out, I expect quick run up as most of these commodities tend to have u
$NIB let's see what it does down here.this could end up popping in either direction, but it's worth a watch down here.
NIB BUYING OPPORTUNITY - COCOA Nib is an ETN which invests in Cocoa futures. It has broken through a downward trendline. It appears to be setting up for an inverse head and shoulders.
Trading plan:
Buy around downward blue support line. Stop loss just under the support line.
Targets are at the neckline of the Inverse H&S and
NIB (cocoa ETF) ideawatching for a reversal at support over the next few weeks. as of now still very bearish. $NIB
See all ideas
This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then leap. Read more in the Terms of Use.
