The XBI Exchange Traded Fund (ETF) is provided by SPDR. It is built to track an index: S&P Biotechnology Select Industry Index. The XBI ETF provides physical exposure, so by buying it you actually own parts of all the 140 underlying holdings.
Positive reason for XBI - relatively equal weighted @ 1% - can not know which bio is going to be a winner!
Like the 30 week moving average as an indicator.
Thesis is as rates fall Bios will be more attractive!
Supply of new drugs in big pharma is dwindling/ coming off patent and they need to replace with new drugs for revenue; so Big Parma will be looking to...
Looking at AMEX:XBI the biotech sector etf is showing some weakness. It needs to close above $85.95 to continue the uptrend, and not close below $85.60-85.58. If it does, the bearish cypher set up is showing a return to $84.50 w/ a bearish close..
Currently short AMEX:LABU
NOT TRADING OR FINANCIAL ADVICE , PLEASE DO YOUR OWN DUE DILLIGENCE
I've been wanting AMEX:XBI to drift downwards a bit and turn for a better low risk entry (add on). I think down to $86-$85.50 is potential area that could bring back buyers. This base looks nice.
min target if close below 84 is 82.57 w/ max target of 78. we're currently near the .382 fib level 83.56 (xbi still has more room to fall).. This move is to test the previous resistances as support. same move spy made.. look at how the . 382 was previously resistances and we cleared that level. now it wants to test the support. this trade pair w/ AMEX:LABU AMEX:LABD
On the weekly chart, price seemed to be breaking down from a channel and then reversed course to move higher. If this is a rubberband reaction and risk-off resumes, then this monthly frame shows a 2nd leg down that could move to 62-58.
Alternatively, if risk-on stays the course to continue January's rise, then price moves up to the 20ma, 96-100 area. Watch daily...
$XBI – Weekly vs. Monthly
Weekly (left) – new swing high after weeks of consolidation. Momentum indicators started to move higher, RSI is above 50-level; MACD is heading towards a cross above the zero line
Monthly (right) – momentum indicators stopped falling; RSI is moving higher. After falling from mid 2021, MACD appears to have completed its correction and is...
Been in a channel for quite some time now. Seems to be breaking out to the upside. Markets still choppy, so not a true direction set, especially with the earnings season coming.
IVR is actually a bit too low, but premium is still good for a .18 delta ($2.57) on a +/- $480,- margin.
Sell XBI 17mar2023 Call 100 - delta .1884
Sell XBI 17mar2023 Put 78 - delta...
Biotech stocks have been my focus as many are showing significant relative strength and posting new 52 week highs. I got long XBI yesterday on the break of $85.
Something to consider - stocks well below their all-time highs have a lot of supply to contend with, so the probability of a smooth trend out of a base tends to be lower and raises the probability of...
$XBI out from 4 month range. Individual biotech stocks have been breaking out in past few weeks, and its good to see the sector moving too. Could see a move to $95.
