Sold today for a nice profit. Will be using proceeds to buy biotech stocks on pullbacks. Added to OCUL today and watching a few others.
this looks like a descent line to hold and check with 45 next.. I personally think the IBB flush will happen quick.
Keep on eye on BIS as well.
ProShares UltraShort Nasdaq Biotechnology ETF BIS has already build up its base line or support you can say. It is the only stock (ZBIO, LABD) where the price line has clearly shows the support over the last one year period of time from July 2015 till Aug 2016. Slowly but gradually it's going NORTH. Time to buy for long time holders. www.zacks.com
look at this massive rejection going on .
This resistance line if broken will not be good for the Btech.. open mind
200 sma touch .. this can work above 37ish..waiting to pull trigger.
Higher lows, break of major down trend and now breaking out of wedge. First target sits at around $40 a slight pullback to begin its major trendline would then be necessary for futher moves upside. cant imagine it goes anywhere but up afterword. Good luck all!!
Never know how some things work... but I can't say i have had success with Biotech's.. so I guess an inverse perspective may be the solution
Left chart: Combine leveraged ETF BIS (bear, bio x3) with XIV (or safer ZIV or SPLV) for a good deal on risk vs return. Right chart: BIS about to overtake EDZ (short emerging markets, x3 ETF). Ratio: 1) currently 1.5 shares of BIS to every 1 share of XIV. This ratio changes over a period of days so must be monitored closely. 2) For less volatile combo's using...
but top of channel has been decent area to long Bio
if the price break through the 30.56 level, possible rapid movement to the price around 36 and beyond. Very nice stop at 29.50