IBB trade ideas
$IBB ShortShort at these levels, waiting for a confirmation on a close below 50d and will take on some puts. 200d will serve for PT on them.
IBB Correction IncomingPsychology of a Market Cycle Cheat Sheet: goo.gl
IBB's chart is identical to the chart on the market psychology cheat sheet linked above.
IBB 5-wave cycle is over + Truncated 5th
Algorithms exit the market after extended 3rd waves, leaving the 5th with no volume nor liquidity, just as it's done for IBB .
Current Market Condition: Complacent. Just "cooling off for the next rally".
50%-60% Downside.
IBB Short?Looking at following Ken Tester short advice on the IBB, am I crazy? I see a historic growth pattern in Q1 but it does appear to have a dip upcoming in this trend. With the IBB having a near total North American fund it is exposed to political developments such as the shutdown, a new bill to lower prescription drug costs put forth by democrats in the house and with pharmaceuticals companies recent price increases, it seems like a legal battle brewing. I am anticipating a drop to retest it's Christmas woes below 89. Any thoughts? IBB
sell overbought biotechnology sector IBBIBB is up 22% in 20 days. I believe this is unsustainable in the near term (next 2-4 weeks) and believe the stock should retrace. Right now we are testing last highs and should be a good entry place for a quick short term trade. To give myself a little buffer, I am selling the stock for a break even at $112.91 by selling the 112 call/buying 115 call for 91$ per contract. If the stock stays below 112$, my option will expire profitable for 91$ within the next 30 days.
Biotec ready to move up. Double bottom is in.Successful double bottom is in. next move is up.
Check out AGEN, already moving up, good product line on the way, successful tests.
Short IBB setup (Watch for next week's bounce)IBB broke the previous upward TL. However, my indicator reached the bounce area, I would expect it to have a bounce to the broken TL for a retest before heading down lower. If breaking the weekly bullish cloud ahead, downside will be greater.
IBB - Short for now but bullish longer termYet again (markets really are at a critical juncture imo) I can see two possible counts for this index/etf. The red count would suggest a much deeper and longer correction before continuing upwards while the blue count suggests that the rally from June, 2016 was in fact a wave 1 up. Something the blue count does have going for it is that the larger wave 2 correction was already a 4 year correction from 2004 to 2008 so perhaps this wave 4 has been much shorter. I'm leaning with the more bullish blue count. (As it is a longer term chart I have used the fib channel tool for my fib retracements as it apparently a workaround for a lack of proper logarithmic scaling in TradingView.)
IBB Biotech ETF IBB is pulling back into a solid spot of buyers on the weekly chart. Great place to go long with a very small risk and good reward.
IBB One Ugly Candle this WeekAlready testing the weekly trend line. Technically still in the uptrend. My big concern this one was late to the party and it is falling fast. Seems like lots of weak hands.
Biotech looks encouraging to me Looks sort of like a drunken cup with handle. Could use the current short tern uptrend line or recent weekly low as a stop. Process your way. Feedback appreciated.
bullish wave pattern looking for 118.74 b/o confirmation $xbilook for price action to b/o of triangle $118.74 confirmation
IBB looking slightly bearishVolume drying up. Looks like demands weakening. Tomorrow could be a pivotal day. Stay tuned. Bought BIS to balance my long biotech positions.
IBB Trend analysis with minor volume price analysisWatch closely tomorrow. Bull trap vs bounce off trend line with continuation of current trend. Personally I think the trend continues.
I'm a beginner at volume price analysis. Analyzing the daily bars I feel this opens higher tomorrow. Sell off with wide price swing however was on low volume.
IBB Volume Price AnalysisWatch the index. Stay tuned.
If support breaks on volume, will be adding to $BIS.
Biotech Breakout - Get Long Because It's Strong! Biotechnology stocks have done nothing over the last 3 years however we now see a breakout and this could present an opportunity to add to a long term momentum portfolio. Please stay tuned, as there could be be many opportunities in the broader healthcare sector.
IBB BreakoutIBB is breaking out to the upside, with an initial target around $124, the 127.2% extension of the major swing from this year's high in January to the lows in April, followed by the 161.8% at $131.
I'm jumping in via September $125 calls.
