Note: This is not an investment advice but my opinion alone. Please feel free to comment
The XBI has been on a downtrend since September and one of the first sector to begin the pull back after all time highs. I am still bullish this segment looking at the charts and the current price action on the 5 year 200 EMA. It looks as though we are in wave 2 based on what seems like an ABC reversal in 2016.
If we break the EMA then we could be headed lower but I see this sector as bullish in this volatile environment.
The XBI has been on a downtrend since September and one of the first sector to begin the pull back after all time highs. I am still bullish this segment looking at the charts and the current price action on the 5 year 200 EMA. It looks as though we are in wave 2 based on what seems like an ABC reversal in 2016.
If we break the EMA then we could be headed lower but I see this sector as bullish in this volatile environment.
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.
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.