but I think we finally have a good setup.
Interesting correlation between VIX and LABD over the last month. Really goes to show how volatility/sentiment is driving LABD right now and not any view of fundamentals. There has also been a tight correlation between LABD and TXN too, but only over the last month. 1Y TXN LABD is not closely correlated. VIX LABD TXN
LABD is finally perking up. Buying it as a hedge. chart starting to look good
Another descending triangle has appeared in LABD. My numerous other finds have yielded decent results but we have yet to see a turn in the market indicating a new direction. The play itself might be worth a couple of percent gain but please trade safely. The downturn near the end of Friday's session is forecasting a likely poor Monday opening in addition to the...
I don't know how other people are feeling but there are a lot of bearish declining wedges appearing in the leveraged ETFs and elsewhere. Makes me wonder what news we're getting between now and then.
I bought LABD last week based on this chart. The price closed above the supporting moving averages. The general markets are extended past 34 days in this cycle. Usually a market top happens about now.
WIth 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...
As 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: ...
The NASDAQ Biotech has just broken the monthly support line with bearish divergence. Bear marketing coming soon?
After a recent selloff in mid June 2019, Stock price went from from $6.70 down to $3.44. Cala looks to have established a double bottom. New strong uptrend suggests it has potentially capitulated from the selloff making these levels very attractive for any investors who are sidelined and looking for a good technical/ fundamental trade in biotech. Cala looks to be...
Recent data release may have changed SGMO's future outlook. Sangamo's long-term chart suggests a potential pullback to $4 is a possibility, but that was before a recent data release by the company for updated Phase 1/2 Results for SB-525 . This is an investigational Hemophilia-A gene therapy that showed sustained increased Factor VIII Levels with no reported...
on weekly candles. 55 by spring? $IBB $LABD $LABU
Target 10,000. I can't believe I said that... but there is just too much confluence to ignore this possibility. However, a breakdown from this wedge will likely eliminate this play. Either we hit it fast in 2019, or this long is off the table. Let me know your thoughts.
The biotech sector is really interesting when you dive down into the symmetry of the last few cycles. Early 2000s-2008 and 2016-2018 are mini rallies within the bigger wedge. If this pattern is to continues, you can look for entry around the end of 2020 when we bump up against the larger support line (around $3600), and expect to hit the resistance of the larger...
long term chart uptrend. massive move for biotech in this bull cycle. inflated drug prices... swan $IBB $LABD