A descending channel is formed with two parallel bearish lines, which indicates a downward trend in price. Within the channel, the operations are opened by betting that the price remains within it, so when the price is touching the bottom line, the operation can be opened long, even when the price touches the top line, these operations open after rebound confirmed
Top pattern broke down, retracement took place. About time to get in
This chart belongs to our educational article "Corrective Waves Construction - Part 5."
whats it gonna take to get this off the mat?
IBB-SPX RATIO (D) Possible Ending Diagonal At Support
IBB(240) Sym Triangle Libra Butterfly Retest EW RSI(D)
This failed again to enter the larger channel, and now seems to be breaking out towards. Price target at bubble. See longer term view here THIS IS NOT TRADING ADVICE, I'M NOT A PROFESSIONAL.
IBB broke it primary trend a while back, and since has been struggling to re-enter it. If it fails to re-enter again here, it looks like it will drop significantly. If it re-enters, then we're back to Longing it. Just waiting to see. I'M NOT A PROFESSIONAL, THIS IS NOT TRADING ADVICE.
IBB(daily). At Support, RSI, DC, WW, .618, AB=CD(s).
IBB is showing weakness, having broken through a key support area and then failed to recover in day 1 of the back test. Expect to see re-test of 98'ish support, with failure leading to a re-test of December 2018 lows, and perhaps much lower. Bang for buck isn't great here, so we aren't taking the trade, but risk/reward is very good on this move.
The pioneers in medicine ($IBB Biotech) vs the pioneer in automobile, battery and automated driving ($TSLA, Tesla). Notice the wave of investor recognition of the future of biotech from 2011 to 2015 matches quite well to the wave of investor recognition of the future of energy storage and EV vehicles in the stock price of Tesla. Biotechs returned to the US...
Well the weakest link in the market has been the heathcare and ibb index .A time she is a changing maybe soon .Iam now net long ibb as of this post 40%
IBB is at a key support level. RSI overextended and at a key support level, IBB is starting to show signs of exhaustion. The upward move to $107.50 (resistance) is highly probable.