XBI Daily SetupAMEX:XBI daily setup:
Double bottom process with 5/20/50 EMAs all tightly converged and accelerating up together.
Entry above today's high at 133.44
Stop below today's low at 130.23
Profit target is 149.50
Risk/Reward is 5.0
XBI trade ideas
Opening (IRA): XBI November 19th 110 Short Put... for a 1.71 credit.
Comments: 30-day implied isn't great here at 34% or so, so this is more about taking advantage of weakness than anything else.
Weekly XBI is squeezing hard and it has nowhere to go but UPWeekly XBI is squeezing hard and it has nowhere to go but up
Bears can try to resist day by day or overreact to SPY moves but ultimately it will go up
XBI is bullish here expect a rallyXBI dropped because of the SPY drop (due to volatility).
However, XBI is still bullish. And SPY rally will help fuel this.
XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37Prediction: XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37 (Resistance line)
Reason: The chart is filled with Bull Harmonic Patterns. From the "Gartley" pattern (recent), to the larger "Butterfly" pattern which gives the overall reversal, to the in between "Shark" Bull Pattern. Every timeline shows new bull patterns.
The Volume Flow is increasing, and the momentum is strong.
Currently, it is consolidating but the bull pressure is too strong. It will pass the next resistance of 130.40 and then reach the resistance of 134.40. (Momentum will probably continue afterwards).
XBI will complete upwards 26 period than go up 1 or 2 cyclesXBI (Small Cap Biotech Index) is due for 2 or 3 upwards movements (includes current wave). XBI moves in cycles of 2 or 3 (or 4 when it became overextended) and in between we have a 1, 1 pattern (it takes a break) where it goes up 1 sideways / 1 down, or 1 up / 1 down.
I predict it will complete the upwards 26 period and then go upwards for 1 or 2 more 26 candle periods (daily timeframe).
The pattern doesn't say if it is going to move for 2 or 3 but it shows that it can be one or the other.
In addition, I factor the current bullish signs for XBI which helps to support this theory.
Note: The stock GH is included but hidden in order to allow me to show the higher pattern. It just a way to scale up the chart.
short term, biotech stocks about to pump the chart has all the descriptions
i will be getting in later after correction right now am more interested in crypto (short term crypto best assets) and energy stocks (mid term energy stocks best assets)
XBI Long LABDI am Long LABD expecting a pull back on XBI. Rejected at 200 day and watching linear regression channels.
Double Bottom RectangleXBI formed a double bottom. The bulls made a stand at this level. Appears to be in a rectangle which is a neutral pattern until a trendline is broken with a trend in that direction.
The top trendline of a rectangle is resistance. The bottom is support. It is a horizontal trading channel and price can bounce back and forth until a trendline is broken.
No recommendation.
SPDR Series Trust - SPDR S&P Biotech ETF is an exchange traded fund launched by State Street Global Advisors, Inc. The fund is managed by SSGA Funds Management, Inc. It invests in public equity markets of the United States. It invests in stocks of companies operating across health care, pharmaceuticals, biotechnology and life sciences sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. It seeks to track the performance of the S&P Biotechnology Select Industry Index, by using representative sampling technique. SPDR Series Trust - SPDR S&P Biotech ETF was formed on January 31, 2006 and is domiciled in the United States.
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Biotechnology Select Industry Index derived from the biotechnology segment of a U.S. total market composite index. In seeking to track the performance of the S&P Biotechnology Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the biotechnology segment of the S&P Total Market Index ("S&P TMI"). Benchmark: S&P Biotechnology Select Industry TR USD.
Top 10 Holdings
Intellia Therapeutics Inc
1.15%
Moderna Inc
1.12%
Cytokinetics Inc
0.98%
Celldex Therapeutics Inc
0.91%
Translate Bio Inc
0.90%
Arcus Biosciences Inc
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Veracyte Inc
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ChemoCentryx Inc
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Biohaven Pharmaceutical Holding Co Ltd
0.83%
Kymera Therapeutics Inc Ordinary Shares
$XBI Technical AnalysisIn this quick video, I break down why I see so much potential for the long and short term in the biotech sector. This is not financial advice, just my opinions. If you liked this, please be sure to like and follow for more :) Good Luck!
XBIWeekly chart of Biotech ETF, $XBI; looking bearish. A weekly close below $118 would be negative. Weekly RSI is at 38.2 level. Previously, this level provided support once. More often, RSI bottomed near 30. So, XBI is at a critical level.
Long $XBI Technical Setup ($QQQ $SPX $SPY)Long $XBI Technical Setup
Weekly chart shows XBI has reached the strong demand zone.
Near term bottom has reached and from here price can move higher.
FDA Hype Watchlist August 2021In this video I break down my watchlist for potential FDA dates to play in smaller cap pharma companies. Please note that this is not financial advise in any way.
My Watchlist:
$SESN
$FATE
$KLDO
$AVXL
$FSTX
$LPCN
$MITO
Good Luck!
XBI inverse head and shoulders XBI has continued to consolidate and during that consolidation has formed an inverse head and shoulders. I have been adding to my position the last couple days
XBI - Bullish $152 PTXBI 20D channels listed in the white uptrend lines
Falling Wedge Breakout (orange Lines)
C&H Breakout confirmed on the 2D charts
Trending above all EMA's
Short term PT is $152 within the next 60-90 days.
GL!
Price rejected at Weekly Support...Good risk/reward to go longI opened a Collar trade on this.
Trade Management: Long put @115
Short Call @130 June 18th
Learn, Plan, Size and Manage.
This publish is not an investment advice. I am not an investment advisor. So, you are solely responsible for your actions on your money.
Should be scanning ETFsCome Monday going to look at a position in XBI (if it has not gone too far). Pulled back and spiked at the Weekly 50% Retracement that matches with prior price action. Stop needs to be just below the low of May 11th.
The industry for this ETF is Biotech. This should make Cathie Wood happy.
Closing (IRA): XBI June 18th 115 Short Put... for a .37/contract debit.
Comments: In for 1.50/contract (See Post Below), out for .37/contract here; 1.13 ($113) profit per contract with 21 days to go. It's still somewhat weak here, but implied volatility has crushed into sub-35, which is kind of my exchange-traded fund implied volatility cut-off.
