XBI trade ideas
XBI Daily - Time to Short Bio?There's nothing I like more than spotting similar patterns when looking at charts. History does tend to repeat itself. So what we can see here is a pretty standard MACD divergence forming right now, and what looks like a copy paste of what happened a few months back. I'm short until the bottom trendline. Weekly chart not looking good either, but we'll look at that Friday. We could see a pretty "YUGE" correction next week for XBI.
Breaking down Retest in 60's - Current support at 50 day SMAlooks ready to retest 60's where there is a large gap
XBI Completing Bearish Bat?Looks to be forming a bearish bat pattern. Indicators looking a little toppy, looking for more bearish confirmation before diving in.
RSI trendline already broke, it's leading indicator, soon will break the trendline on price. LABD turn soon.
Still a SELLAs soon as it break into the previous trendline, it'll be over for XBI and time for $LABD.
Still in the channel actuallyWill see how it goes next week. I won't go long on XBI, $LABD is still the bet.
Short BIO ETFShort XBI or buy reverse ETF(1X, 2X, or 3X) when XBI bounces back to range 64.83 ~ 66.27, stop at 66.5
XBI global rout imminentThere's major global pull back, Biotechnology will scale back, but not as much as SP500 and DOW.
You should hedge properly, VIX will be back soon.
*Election year is Biotech Year*
Look at its history, XBI will pullback from RSI 73 $LABD$LABU tnever sustained for more than a few days above 70!! LOCKED IN PROFIT warned again.
XBI longThe price broke the first channel trend (blue), then broke the second trend channel (pink), and then formed the first wave (1) completed the second wave (2), and now going like a rocket with wave 3.
I am in LABU long from 25. My first target of LABU was 43-45, accomplished, I raised the target to LABU=60 for now. as XBI is going easy to 85-90
Trade with care and make your own Judgment.
