Looks like the reversal may start from here! 🥰Hi there, Yurii Domaranskyi here.
Risk vs Reward = 1 to 44.48 ✨
It means if you risk here 100$ you may make 4448$ Not bad, huh?
XBI trade ideas
$XBI - Positive DivergenceThe SPDR BioTech ETF $XBI has been an underperforming for a long time. However, there's clues that could be changing. There's a nice positive divergence on the RSI. The down trend line was broken after several failed attempts. The stock is above the 50 day MA for the first time in over a year. Both the 20 SMA and the 50 SMA are curling upwards. RSI is positive. I like this long above the possible resistance area of $96.91.
The tripled levered bull equivalent $LABU looks just as good with even better volume.
I like the ETF long above $96.91. With a target up to the 200 SMA. of about $114.00
Under $96.91 and it's probably best to stay away.
Thanks for checking this out. Good luck to all.
XBI signaling market strength going forwardXBI has a strong correlation to the general market and I believe it has put in a significant bottom indicating we should be getting a broad based market rally in the months going forward.
Rolling: XBI May 20th 75/105 Short Strangle to June 76/110... for a 1.09 credit.
Comments: A different way to do a delta adjustment when your setup is in profit ... . Locking in the realized gain of the May 20th setup while returning the position back to net delta neutral and improving break evens. Total credits collected of 2.35 (See Post Below) plus the 1.09 here, for a total of 3.44 relative to a current value for the June 17th 76/110 of 2.72, so I've realized gains of about .72 ($72) so far.
IVR/IV is still pretty decent in here at 53/42.6%.
XBI Swing tradeExpecting money to flow into this beaten down ETF. Bottom starting to form and expecting a U shaped recovery in the next few months. Definitely one to keep an eye on!
XBI Reversal Inevitable?Taking a view from the long term I see the following:
1. Whenever volume has reached spiked in the past, it's led to a bullish or sideways move.
2. Whenever the MACD has reached current levels in the past, it's led to a bullish or sideways move.
3. We are currently at strong support (psychological 100 and previous long term resistance)
4. MACD histogram is showing a bullish divergence
Would expect a test of ~118 within 2-3 months.
After this we'll have to see if it will start to trade sideways in the 100-120 range, or if it's ready to go for new highs.
$XBI BIO IS BACK???XBI looking ready for a turnaround. Lots of firepower (shorts) to fuel this rally imo.
Opening: XBI May 20th 76/105 Short Strangle... for a 2.35 credit.
Comments: And here's my "clean" XBI setup after having scratched out my previous position. High IVR/high IV at 61/41. Selling around the 16 delta on both sides. 2.35 on buying power of 9.05 (on margin); 26.0% ROC as a function of buying power effect; 13.0% at 50% max.
Closing: XBI April 14th 75P/84C/98C/99P... for an 18.71 debit.
Comments: Wee! Scratching out my XBI position here, which will free up the buying power for a clean setup. Total credits collected of 18.71; closing it out here results in a "non loss."
$XBI #XBI is the Spring growth time no position yet , but on Monday at first uptick will enter on 1/3 position
Way oversold imo , not looking be there long term , but just enough to my make 3-5% in gains
Has been very good downtrend and strong bottoming is a great indicator to switch gears
GL ,
Wars are sucks
Opening: XBI April 14th 75 Short Put... for a 1.83 credit.
Comments: Adding a short back in to strangle my in-the-money high delta 99 short put (which is temporarily acting like long stock). Total credits collected of 15.22 with a downside break even of 83.78.
$XBI Monthly approaching buy zoneStarted XBI LEAPS position buying JAN 24 $150 Calls, will continue to add as XBI Biotech has taken a beating, but technically has just found it's way back to the long term upward trendline support zone.
First price target 120, followed by 140 after expecting a bit more downside here.
This is a long term trade idea, for those looking in the short term, there may still be more downside although the R/R favors the long position now IMO.
$XBI Key Levels, Analysis & Targets - Request$XBI Key Levels, Analysis & Targets - Request
Ok, @FlashingGraphs so these would be my targets fo XBI. It sounds like you don’t have an open position yet… I would start around 78.06.
Then if it keeps selling off, then double your position at 62.94
And if it still continues then double again at 45.89. If those 3 hit then you can expect a solid 50% swing from there…
Because of the way the Biotech sector moved in the past two years I could definitely see it making a 3 standard deviation move down like this, in correction. Don’t go in too heavy until you see a clear reversal sign… (such as macD crossing back above 0, and consistent higher lows)
And with that being said I still would start building from Target 1. I hope this helps.
GL & happy swinging…
Closed: XBI March 18th 71 Short Put... for a .20 debit.
Comments: Sold this for 1.41 to reduce cost basis in my inverted short strangle. Closing out here results in a realized gain of 1.21 ($120) on that leg. Cost basis on the remainder is now 12.46, with a downside break even of the short put leg (99) minus credits collected (12.46) or 86.54 relative to where XBI is trading right now at 86.34, so I'm not in horrible shape. I will consider re-erecting the short put if we get further weakness or rolling down the short call further since it's I've collected 12.46 on a six-wide, leaving me with room to invert further if I have to.
Rolling: XBI March 18th 93C/99P to April 20th 93C/99P... for a 2.38 credit.
Comments: Rolling this "as is" at 21 days until expiry to collect additional credit and improve my break evens. Total credits collected of 12.66 on a 6-wide inverted with a downside break even of 86.34 relative to where the underlying is currently trading at 88.22
Expecting a reversal after a steep dropBounced off the long term trendline. I'm expecting a reversal, V-shaped recovery, back to ~$120.
XBI - Oversold Biotech Sector down ~50%Lower can always can go lower, and I do believe XBI will hit 75-85 in the upcoming days/weeks. That being said,
- Last 3 times W RSI hit oversold, it provided an excellent entry opportunity.
- Hidden Weekly Bullish Divergence
- Volume climaxing could suggest a reversal as it did the previous 3 times.
What I'm looking for:
- VPVR/cluster of fibs at 75-85 holds
- Regular Bullish Divergence on lower TF's
- Reversal candlestick pattern
- SPX not to shit itself
XBI Turning AroundAfter a whole year of just performing like trash, XBI is now at covid levels. It literally gave up all the gains it made in 2020 in 2021.
It is currently at a monthly SR level and volume area, while also being at the long term trendline. I'm expecting this to turn around and at least hit ~$115 again, but who knows, it's the XBI after all.
dip before the next rip? 🍿xbi can see a little more downside, but should bounce off local/trend support. Once the bottom is in my targets 122.88.
like and follow for more
Rolled: XBI February 18th 132 Short Call to the 110... for a 1.64 credit.
Comments: Rolled the 132 down to what was the 25 delta strike on side test, after which the underlying promptly bounced back to 103 and change. I originally collected 2.69 (See Post Below) with a 50% max take profit at 1.34, so am revising my take profit to the original take profit of 1.34 plus what I received for this roll -- 1.64 (i.e., 2.98).
XBI Here is a wild crazy idea! 😊 Right?
Also take a look at my previous idea :
Notice104ish is 200(W)EMA and take a look at 2014-16 Pattern.. Doesn't like to stay below that mark for too long... GL
Who is betting Against Science?
Just sharing my view .. Not a trading call.. GL
XBI 3rd time most oversold in a decade Once of the largest crashes in XBI history and one of the most weekly RSI oversold readings. Retesting the highs of the consolidation from 2015-2020 there should be huge support here and likely a big recovery.
XBI - Some relief coming into Biotech stocks? XBI has bounced at the 1 Fib at 95.71 with bullish divergence on the Daily TF. Weekly RSI is almost oversold. Expecting a retracement back to $118.
