ABBV up;respecting wma50 despite LABU biotech 3x etf falling 10%ABBV is one of Warren Buffet’s holding in BRK.B. It has been respecting the weekly wma50 for a long time while holding an uptrend.
I think the sentiment has been too bearish & a shortterm rebound in the general market is due in the next few days.
Not trading advice.3
Biotechetf
Biotechnology Breakout ImminentI hadn't appreciated this at first but LABU/XBI have been in a massive condensing pattern since about September of last year with support from New Years onwards. It is imminently about to breakout with an amalgamation of EMA/SMA lines and three touches on the upper resistance line. A breakout above this, which I think after Saturday's news of suspended China-U.S. trade action, is all but assured and could be extremely bullish for the Index in the near to medium term.
LABU - TIME TO GET BACK IN THE LAB! XBI LABD!My plan here is to layer into the market. The market is on fire but I believe that just opens up room for more profit when everything comes back together. Everyday the Biotech market falls, add more shares. Could see master gains here into 2019. Be patient and believe in the market.
BIOTECH poised for much more upsideBIOTECH stocks look as though they have quite a bit f upside to go. what is most interesting is that the S&P and dow generally seem to be nearing a top, but this chart indicates much more bull-side momentum. Im very interested to see how this all pans out. My guess is tactical asset allocation and active investing will soon come back into the fray