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XBI trade ideas

XBI - Starting the year strong with a minor breakoutBiotech stocks have been my focus as many are showing significant relative strength and posting new 52 week highs. I got long XBI yesterday on the break of $85. Something to consider - stocks well below their all-time highs have a lot of supply to contend with, so the probability of a smooth trend out of a base tends to be lower and raises the probability of failure. The larger degree consolidation could look like this if the selling isn't absorbed by enough buyers at resistance:
AMEX:XBILong
by Lanmar
XBI: Monthly OutlookWas going to post this idea sooner, but didn't and now regret it because its essentially almost happened fully. But better late than never so here we are. XBI is a short. It did a head and shoulders with a bear flag/wedge. It broke down from the wedge today and is on its way to its monthly low targets. Based on a prob assessment, high probability of hitting the first low target at 77.28 and an equally high chance of seeing the second monthly low target of 73.10 this month. 73.10 is kind of where the probability caps this at. From there I would assume there would be consolidation and maybe a slight bounce and not necessarily seeing the 68 TP. That's it! Thought I would get a head start on posting some weekend ideas. If you have any requests, feel free to leave them in the comments. I like to try and experiment with different stocks. Take care and trade everyone!
AMEX:XBI
by Steversteves
4
$XBI - Potential Inverse H&S + Potential Channel breakoutXBI has been in down trend channel and now it looks like it might try to breakout again. It also look like it is forming the right shoulder of the inverse H&S. If the price can stay above $80 in coming days, there is a chance that it can break out of the channel and head towards $97 with potential further upside to $119. Target 1 - $97 Target 2 - $119 Stop - 74 Risk - Price retreat to $74 and below. —— Disclaimer: Not investment advice. If you like this post, follow me and subscribe to my posts for more technical analysis charts.
AMEX:XBILong
by PaperBozz
Is $XBI leading a turn up for QQQ, NDX?Both $QQQ and $XBI made a bullish reversal open on 27 Sep., however QQQ sold down while XBI moved higher. When the daily candle on XBI (or candle pattern) does not match that on QQQ, take note. I have added lines to highlight examples, and these mismatches often occur at turning points with XBI indicating direction for QQQ. It is not a sure predictor, as you can find counter examples also. See end of Jul. and 15 Sep. In the past few months I have found it useful to look at XBI and Bitcoin daily charts when evaluating direction for SPX and NDX.
AMEX:XBI
by OptionsRising