TICKER: 
XBI
XBI will be testing daily resistance $97.00. The nasdaq biotech
IBB already broke its daily resistance so can XBI follow along?
Again, dividend distribution was this week and it has an impact on the price.
However, I would still be caution because the weeky RSI is pretty extended. RSI is @ 71ish and historic pullback RSI level is around 72.
Weekly time frame is extremely extended and a break of the higher low every weekly candlestick pattern will be the first indication of consolidation.
I am very interested in looking for a swing trade of LABD because of how extended the bulls are.
XBIXBI will be testing daily resistance $97.00. The nasdaq biotech
IBB already broke its daily resistance so can XBI follow along?Again, dividend distribution was this week and it has an impact on the price.
However, I would still be caution because the weeky RSI is pretty extended. RSI is @ 71ish and historic pullback RSI level is around 72.
Weekly time frame is extremely extended and a break of the higher low every weekly candlestick pattern will be the first indication of consolidation.
I am very interested in looking for a swing trade of LABD because of how extended the bulls are.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.