Sharing an intermediate view of the EW count options for XBI. The short-term bullish range is $97-$98. The short-term bearish target ranges are $89 - $88.50 and $87. The bearish count, in red, drops the price to $81ish as first support. If, $81 range does not hold, $72 is the C wave target. In the meantime, I anticipate a lot of chop in the range from...
Biotechnology is expected to be a hot subsector this year as healthcare recovered further from the COVID pandemic anything from startups to big pharma- from vaccines to new drugs for diabetes, liver disease and obesity. This is shown on a weekly chart to show the long term trend with XBI pivoting to bullish back in early November. I add long positions when I...
LABU on a 240-minute chart has been in a trend up gaining 100% in 3 months. Both the fast and slow ( green and red) are above the 50 level. Biotechnology is expected to be a hot subsector this year as healthcare recovered further from the COVID pandemic anything from startups to big pharma- from vaccines to new drugs for diabetes, liver disease and...
On the weekly chart a LABU / LABD ratio is plotted with anchored VWAP bands and a volume profile overlaid. I wanted to analyze this to affirm the highest of prospects for the Biotechnology sector for 2024. LABU is triple leveraged Up while LABD is the inverse Down. A good unleveraged biotech ETF is XBI. The chart shows LABU in a VWAP band and breakout ...
Can see this at $15.00 given that is where most shares are currently held, according to FRVP; this means there will likely be little downwards price pressure until then. Biotech is generally bearish outside of select, short-lived bull runs - this, in my opinion, creates an opportunity for sentiment arbitrage and is my reasoning for the trade (short term/long term...
LABU is shown here on a 2H time frame. I am holding 500 shares having bought November 14th on golden cross of fast and slow hull moving averages. The unrealized gain is 50%. Here, I determine that I should en bloc or in increments close the position. First, on the dual time RSI indicator of Chris Moody, the RSI is now over 60 and approaching 65. Price...
FULC a biotechnology firm with a mixed earnings report early in the month just printed a big move and then stalled at the NY lunch - hour and faded. Will the fade continue or will there be an upward continuation? The 15 -minute chart seems to suggest a downtrend: 1, The volume profile shows heavy trading at the top. This could be short sellers...
As shown on the 15-minute chart, LABD is bouncing between stardard deviations of the VWAP in a 6% price range fluctuation day to day. At the upper end it is reversing at the POC of the volume profile confluent with one standard deviation above VWAP while at the bottom it is bouncing from the bottom of the lower high volume area of the profile and two...
- QQQ double topped with Tuesday top, had a 15m bull flag during consolidation with no red flags until mid morning. - XLF increasing bear volume with zero bounce and very notable big money exiting. Fear creeped into the market - VIX up 20% - QQQ went from lead bull to bear when all sectors starting to drop at the same time after XLFs huge drop. dragging SPY...
Labd reached a support area where there will be a strong buyer Entry is done by putting a stoploss as shown in the graph . For further more wait for our updates .
AMEX:LABU LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. On this 15 minute chart, consolidation at support is seen in July, Price then rapidly rose into a triple top in mid-August followed by a descent into a double bottom at...
LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. Here I chart LABU / QQQ ratio to determine relative strength. On this weekly chart, the ratio and so relative strength are at more than a 52 week low. The MACD indicator shows the...
This Daily Chart plots LABU to LABD ratios over time. LABU is 3X Leveraged ETF of a variety of biotechnology stocks while LABD is the inverse. By plotting the ratio of LABU to LABD, what can be found is the precise end of the LABU downtrend (LABD uptrend) and reversal into LABU uptrend ( LABD downtrend). In this case, the reversal occurred about June 17th...
took a small position on labu at 7.77, looking for 83.50 then short off of D leg
seeing bearish pattern set up, a pop then retrace near the .236 fib line
I took a small CALL option position this morning. Got the 5/13 $8 calls for $1.20. Now $1.65. BIIB and PFE both report in the morning.
MRNA has gone on an absurd run, and the technical setup looks ripe to the short side. It's all over WSB, looks ripe for a slaughter. There is upside risk with a possible FDA approval so trades have to factor that in.
As far as popular reversal patterns go, ascending triangles are no bottom of the barrel. Although I still am a new trader, I have been committed to the market for just over 1 year. With that said I have been watching LABD/LABU in proximity of market trends. When the overall market is bullish I trade LABU with success. When Market is bearish I trade LABD with...