LABD interesting pattern. Video Analysis XBI IncludedLooks to be an ascending wedge. Measured move, target, predicted price path, Divergences, and fib levels included.
This week's Biotech Sector Video Analysis: www.youtube.com
BIIB
ONCESpark Therapeutics has had some good news lately in trials. Looks to be trending higher on the weekly and daily charts. This should be low risk with a tight stop. Buying ONCE at market open.
BIIB - Bull flagBIIB showing good relative strength. I bought 1 325 Dec16 call and sold 2 350 calls for 2.10 debit.
LABUThe stock market was hit hard on the BREXIT vote. I believe LABU has now found a bottom. The LABU ETF shows a trend line break and a double bottom. The double bottom seems to be holding. Set your stops there. %R is over sold and recovering. Last time we saw this we had a run to the upper trend line. A similar move this time will bring us to $42. A very nice return on our $$$ risk if we get it. The purple arrows seem to confirm a trend change they are pointing out the Stochastic go long alerts. Same as before.
BIIB - Watch (Investment & potential swing trade)1D:
1W:
BIIB has gotten hammered and I feel it's over done. Since last gap down, it has been in a down trend with LHs & LLs. I'm hesitant to jump in until I see more technical justification. It is close to a support. I would like a retest and bullish candles before entering for a swing trade.
IBB Biotechnology sectorIBB, the tracking stock for the Bio sector looks ready to regain its upward trajectory. With the RSI and %R at very oversold positions it may be ready. We recently had a bounce off the 200ma, There appears to be consolidation in the blue box currently. Look for a move above the 8ema to enter long.
KITEKITE- appears to be nearing the lower trend line, RSI is over sold and rebounding, TSI appears to be nearing a positive cross higher. Might be a few days early here, so patience.
BIS- Inverse Off IBB Could It be? A Double Bottom In The Making?4-22 Could It Be? Is this where we carve
out a double bottom? If so then IBB (longside)
MAY be carving out a double top. Remember,
going long this is gaining short exposure in the
bios. BIIB (Biogen) reports so be aware it could
have an impact on this issue. Chart wise its
all about an upside crossover of the green line.
Feel free to follow on TWTR at
@AmazingPatterns
For informational and educational
purposes only, these are not
recommendations, trade at your own risk.
IBB- Speaking Of A Pullback To Multiple Supports?4-2 Speaking of a pullback to multiple supports?
As long as this issue stays above the blue
support lines all is well. This level also
happens to be near the 50 day SMA.
If you like these kind of chart set ups
don't forget to follow me here or on TWTR at
@AmazingPatterns
For educational and informational use only,
these are not recomendations , trade at
your own risk
REGN- Nice Looking ABC To Multiple Supports4-1 Nice looking ABC to multiple supports.
As long as this issue stays above the blue and
green support lines all is well. This level also
happens to be near the 50 day SMA.
If you like these kind of chart set ups
don't forget to follow me here or on TWTR at
@AmazingPatterns
For educational and informational use only,
these are not recomendations , trade at
your own risk
Picking a fight with the biggest guy.Biotech is all the rage, I'll play for a quickie short on this once it gets to 412ish, provided it puts on a reversal candle of some sort first.. It'll be highly technical, you have to be very surgical, it's like picking pennies in front of a train, it's like cheating death, and me likey.
A better way to play this is to sell some call spreads once it gets to 412 (RSI red hot by then, probably), that way even if it consolidates, you still get the time decay.
One shortcoming is liquidity on BIIB options is how do I put this delicately, shtty.
REGN- See How Important The Use Of Trend Channels Are? 10-30 For those interested in buying support,
especially know considering how short term
extended things are these days. Its all about the blue line.
It also helps define ones entry risk here. If buying here
you are buying 20 points away from a support zone
(thanks anyway I say). Given this issue is tagging a
trend channel resistance zone? That is all the more
reason to let them come to you in the form of a pullback.
After all to a chartist the adage of buy support and sell
resistance is a classic mantra isn't it? Even more so
when you have an issue that just tagged the trend
channel resistance zone. Sure its pulling back but still
needs more chart time. This chart is also a good
example of how the trend channel keeps you away
from going long at the wrong time and AFTER a run
has been made already.
The use of trend channels are your best friend.
Not only do they help you manage the overall
trend they keep you from getting emotional at
key levels. At resistance? They keep you away
from that dreaded fear of missing it AFTER you
already missed it emotional trade. At support
they keep you away from caving into fear and
selling at a support zone.
For informational and educational purposes only.
These are not recommendations. Trade at your own risk.
#BIIB bull shark&batAfter completing the bearish bat (green) to the tick possible bullish shark and bat completing at same level 280.83 for along, if the PA reaches that level.
