IBB
$IBB Looking Near Term Over-extended$IBB Looking Near Term Over-extended
Long term rising wedge has formed. If broken, we could see $124.00 in medium term.
Note: Not investment advice.
Energy building in this biotech stockVery nice symmetry in this H&S pattern. I expect an explosive move
There's always a bull market somewhere... - Twist Bioscience Corporation is ranked one of the most relatively strong stocks out there now.
- The opportunity for long/short equity in these times is just astounding to me.
- I don't think I've ever seen so many stocks trading as if they're in parallel universes.
Big Biotechs Ascending TriangleIBB is forming an ascending triangle, which is a continuation pattern after the breakout.
Important to note the 20sma, which has been very supportive in the trend. The is also some support we can see many candlesticks with bottom wicks, meaning the shorts were met with buyers very quickly.
IBB - reached forecasted target and should correctIBB reached the target we forecasted on May 6 and at this stage it should have completed primary wave 5. It should now start a correction that can take it to new lows. The alternative scenario would be that we would see a minor correction to around 115 before trend to new highs. However, in both cases prices should follow the path to at least arounf the most probable target of 115. If prices crosses up 136 this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
IBB - Biotech ETF could offer good potentialIBB seems to have starting minor wave 5 up that could lead its price to the most probable target of 134.00. This sector should be be one of the good options to be in during the current market scenario. If prices crosses down 199.70, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
CSBR: A silent winnerCSBR has broken out of its wedge a while back but hasn't done much since. I think it is gearing up for its next move higher. I would watch for a test of the trendline and look to accumulate there where I expect the stock to begin its next launch to new highs.
Bullish move triggered on the BIIB weekly chartMy custom-coded indicators are pointing to a move higher in BIIB based on the latest weekly candlestick. The signal is weaker but still present and it appears to be bullish over the next few weeks.
IBB 2W best level to BUY 50% gains (STOCKS/NEW)before we kick start the update. your upvotes/subs are appreciated.
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So without further due. Keep it short/simple and to the point.
IBB 2W best level to BUY 50% gains
IMPORTANT NOTE: tagged as SHORT cause
I expect more short-term losses.
under long-term accumulation on 2w chart.
Biotechs are a lot better positioned
for recovery after coronavirus starts
to fade. Biotechs in spotlight, and
I expect IBB to outperform SPY going
forward next few years (aging population,etc).
recommended strategy:
accumulate later near range lows 82//86.
TP 120//140 +50
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IBB: The time is now...tight risk, huge reward potentialI think @timwest's idea that #TSLA and #IBB both represent innovation and disruption, and so, #IBB should correlate #TSLA (which has been the case so far), gives us a good opportunity as a less evident catch up play, to follow #TSLA's violent climb.
Perhaps some company in the portfolio manages to find a vaccine that resolves the Coronavirus crisis, as a possible catalyst to boost the ETF higher.
The technical chart is absolutely perfect now, we have a daily and weekly explosion pattern setup, where most of the recent highs align near the same zone, and price breaking out above them.
I will add some more detail as updates, lower timeframe and higher timeframe charts, as well as other interesting tidbits supporting this idea.
For full disclosure: I'm long #IBB and #BTC currently, sold #TSLA for now, not in a rush to buy it back. My clients receive timely updates to benefit from my derivatives trading and my position shifts in my stock, crypto and FX portfolios.
If interested in being part of this community, message me for more details.
Cheers,
Ivan Labrie.
IBB - Biotech BounceWhats up Traders -
Stealing a CNBC idea, but i like it and agree with it. Biotech has bounced back to its past highs. IN all liklihood we will bounce around here for a bit -
Entering a Call Credit Spread
1 x 123.5 Call Sell
Jan 31
1 x 125.00 Call Buy
Jan 31
Have a look and see if you. Best of luck.
- Nix
XBI testing Resistance this upcoming week!TICKER: $XBI
XBI will be testing daily resistance $97.00. The nasdaq biotech $IBB already broke its daily resistance so can XBI follow along?
Again, dividend distribution was this week and it has an impact on the price.
However, I would still be caution because the weeky RSI is pretty extended. RSI is @ 71ish and historic pullback RSI level is around 72.
Weekly time frame is extremely extended and a break of the higher low every weekly candlestick pattern will be the first indication of consolidation.
I am very interested in looking for a swing trade of LABD because of how extended the bulls are.
Technicals versus PolicitiansWIth Warren and Bernie fading a bit, Bio/health have jumped nicely. Too much too soon IMO, at the minimum a short term pull back is coming. I am hoping we can become more range bound in the technicals and return to cyclical trading between 78 and 87, this type of cycle is great IBB and XBI, however getting caught when it breaks down can hurt! I use XBI has my measure, but trade LABU and LABD.
**Short XBI via LABD
Build Positions in BiotechAs the month of October begins and broader markets sold off, Biotech sectors are still negative/ flat for the year. Market headlines from high prescription drug prices and lawsuits regarding the opioid epidemic have plagued some of the IBB's largest holdings; which have held biotech ETF's down while the S&P reached all time highs.
Fast-Track Synopsis:
Biotech is a known high volatility trading environment;
More Investors will become "Traders" with new $0 trading fee platforms from Schwab and TD Ameritrade.
Once people begin trading stocks, they will find that high volatility is how the "big" day-trade/ swing trading money is made.
New Med-tech and Biotechnology therapies (i.e. gene therapies, NASH/ NAFLD) are ripening and getting closer to approval.
There are currently over 240 biotechnology companies with Gene therapy IP
IP has been growing with RMAT and Breakthrough Designations due to unmet need of new novel treatments;
As Biotech rolls into year-end, lower interest rates will propel company growth models which I believe will help drive buy outs.
LABU Technical Analysis:
Bullish Harmonic Gartley pattern and close to 52-week low.
1-year Gartley pattern should move LABU stock price back up to around $40 level (resistance) where we will be watching for a potential breakout
CCI measured "oversold" with the end of September pullback, CCI-slope is now trending higher,
This last pullback also measures a double bottom (data points are from Christmas 2018 and present)
Intra-day bullish RSI divergence, Daily RSI trending higher;
the MS Signal recently flipped green as of 10/1/2019 and is still indicating a nice swing opportunity to come.
Three-drives pattern bouncing toward resistance concurrent with double bottom and Gartley pattern.
Look for the support level (marked (x)) to hold.
See conclusion here !
Please like and follow so we can continue finding awesome charts/ trades. For more pre-researched Biotech trade-ideas click and visit us at MS Money Moves . Thanks in advance everyone!!
Disclosure: I do not own LABU, I may buy or sell within the next 48 hours. This is not a recommendation to buy or sell. Please do your homework before investing.
Corrective Waves Construction - Part 5 (4)This chart belongs to our educational article "Corrective Waves Construction - Part 5."
INVITAE/UnitedHealthcareHi guys,
Invitae is a leader in advanced medical genetics.
UnitedHealthcare created a "Preferred Laboratory Network (PLN)".Invitae has been selected as one of the seven lab companies.
Long:
LMT 1- 18.9$ (25 % of the planned investment amount)
LMT 2- 17.34$ (55 % of the planned investment amount)
LMT 3- 14.79$ (20 % of the planned investment amount)
TP: 30$
Comments and likes are greatly appreciated.
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions and this is not a call for investment. I am not receiving compensation for it . I have no business relationship with any company whose stock is mentioned in this article.
Rhythm: therapies for the treatment of rare genetic disordersHi guys,
Rhythm is a biopharmaceutical company aimed at developing and commercializing therapies for the treatment of rare genetic disorders of obesity.
Long:
LMT 1- 19.9$ (20 % of the planned investment amount)
LMT 2- 19.21$ (40 % of the planned investment amount)
LMT 3- 18,31$ (40 % of the planned investment amount)
TP: 31.4$
Comments and likes are greatly appreciated.
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions and this is not a call for investment. I am not receiving compensation for it . I have no business relationship with any company whose stock is mentioned in this article.
