At some point there will be a boom biotechnology stocks. They haven't done much in the past ten years. I believe IBB will pass 250 within the decade. However, if the market remains stable, without any 20%+ corrections, I think IBB hits 250 to 300 in the next year
IBB looks to be in a Wyckoff Redistribution phase, with UTAD emerging currently.
On a larger time frame, looks as though a weekly H&S patter forming with the re-distribution section acting as the right shoulder.
My price target is $57, in line with the 1.618 fib extension.
I will not be bullish in Biotech until we reach the lows (-39% correction) or until we reach new highs.
Should be a lot of mess here, for long period of time without a trend.
🔸Hello guys, today let's review 2daily chart for IBB . Entering re-accumulation
stage now, expecting range bound trading during autumn time season.
Range defined by range highs set at 135 usd and range lows at 117 usd.
🔸Similar fractal observed in 2018/2019. Faded into range after heavy spike,
re-accumulation then 50% pump later during spring 2020.
🔸Recommended...
Entry: with price above 133.81
Volume: with volume greater than 1.67M
Target: 138.50 area
Stop: Depending on your risk tolerance; Based on an entry of 133.82, 132.25 gets you 3/1 Reward to Risk Ratio.
Resistance: 135 area
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis...
Exciting setups this weekend are hard to come by.
$IBB I entered Friday over its inside day & reversed by the close.
Nothing wrong here yet & weekly looks very constructive.
A way to play biotech strength w/o the individual stock risk.
Will be out if it can't hold its 50 MA .
Clean bottoming pattern formed as well as clean shifting of momentum here
Look for the bull flag breakout of the head and shoulders for 10-15% upside here
Reasons for adding long position to Biotech stocks ETF.
1)Biotech trade has bottom earlier than the S&P and Nasdaq
2) Resistance at $135
it tends to breakthrough
3) 50 MA tends to cross 200 MA
4) 200 MA start uptrend
Biotech was one of the first sectors in the market to show relative strength and catch some bids throughout the June bottoming process.
IBB rallied 20% off the lows and then proceeded to consolidate sideways for 3 weeks. This Wednesday, IBB broke out of that consolidation with a gap up on heavy volume and is now finding more follow-through.
Keep an eye on the...
IBB bounced from the green pandemic support zone last March but have came back down to retest this zone.
IBB has found support exactly on my GANN FAN line for several times before it breaks down & retested the violet downtrend line & bounced, making a reversal with a long hammer candle.
IBB may close today above my GANN FAN line support confirming reversal ....
This level seems to be a good place to buy but marrkets may remain irrational due to bad sentiment, inflation & geopolitical tensions.
Technically, ZM may first consolidate & create a bottoming base coz ma20 is still far above.
Investors may find this zone attractive to accumulate some shares. Zoom meetings are not going out-of-style yet even after pandemic.
Not...
Everyone wants a trading strategy that allows you to make one trade per day, yet you can still beat the market. Here we explore how you could make one.
The Strategy: Gap & Go for Biotech Stocks
We decided not to reinvent the wheel and just took the highly popularized "Gap & Go" strategy. The “Gap & Go” is looking for a stock gap up from the previous day's...
50sma has been an important moving average for this ETF.
We see 3 consecutive tests of the 50sma as resistance and a bounce lower.
As we see lower highs and lower lows, the bearish trend is confirmed.
I expect we fail again and test the blue line ($144.5).
Why get subbed to to me on Tradingview?
-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates
IBB D4: TOPPED OUT // correction looming // SHORT...
Why get subbed to to me on Tradingview?
-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates
IBB D2: TOPPED OUT // correction looming // SHORT...
