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XBI trade ideas

XBI rebound breakoutXBI had been in a bear market for months. It tested support at 127.50 multiple times. It finally broke out of it's descending trendline yesterday and back tested it today and found support. It should pullback a little from the 20SMA on the daily then head higher. Good opportunity to buy on the pullback. Should hit some resistance around 139.50 which is where the 50SMA on the daily should be. If it can break those MAs then the next resistance level should be 149.
AMEX:XBILong
by BrokenTypewriter
XBI High Conviction ReversalThe Biotech is oversold and is looking to revert back to mean. It is currently at its 180 SMA and ended Friday green forming a hammer candle pointing to an upwards move. Trade Ideas: Shares long between 136-140 to 145, 150, 160+ price targets. Bullish. Short Put at 115 expiring 4/16 for $1.15 Credit. $1150 BPE is a little pricy, but still a decent max ROC of 10% but has a 90% POP. Neutral to Bullish. Short Strangle 115-160 expiring 4/16 for $2.3 Credit. $1400 BPE, 20 max ROC and 78% POP.
AMEX:XBI
by punitarani
XBI Support on daily, may decide next few weeks (ichimoku)We experienced a very large pull back the past few days and it is reaching the previous high. This may serve as a support on the daily chart. Looking at the ichimoku, there have been two points recently that the chikou span struggled to cross through the price to signal a bearish sentiment. If this pushes through it may be possible that we are more in the bearish territory and looking for entries on shorts would be best. Projecting the trend to the cloud, we can also see that the price has been decreasing faster than the projected forecast of the cloud. This may signal a very strong bearish sentiment. If the chikou span crosses the price and the price crosses the support, I would look into short entries. If the support holds, I am expecting to go back to the recent highs for atleast a 10% return.
AMEX:XBI
by mikeej
XBI - Biotech may be running out of fuelIn January 2021, you a quick selloff in XBI caused RSI to dip below 20 while directional selling volume also spiked over 50 (yellow rings). This "oversold" condition led to a quick sharp up move (yellow arrow, RSI crossed up over red line), then consolidation before a prolonged move higher. Now I am looking at a peak in RSI and a spike in directional buying volume (pink rings). I like swing puts here, and there are two trades you can plan. If I buy swing puts now (2/19 strike) I would close them on a drop as RSI crosses below the green line - IV should increase and improve my return. Then I will look for another swing put trade setup if XBI indicates a greater move lower on daily/60m timeframes.
AMEX:XBIShort
by OptionsRising
Biotech etf year in review: O$92.76 H$152.70 L$62.94 C <=> $144Biotech etf year in review: O $92.76 H $152.70 L $62.94 C <=> $144 Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends... *3x lucky 7s of trading* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue Earnings Balance sheet 7 Common mistakes: +5% portfolio trades, risk management Beware of analysts motives Emotions & Opinions FOMO : bad timing Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big organized desk Reading books, playing chess Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum TTC - trend channel www.tradingview.com
AMEX:XBI
by Options360
OPENING (IRA): XBI NOV/DEC/JAN 87/90/93 SHORT PUT LADDER... for a 5.91 credit in total. Notes: Going where the volatility is ... . 30-day greater than 35% (39.8%) with the November at-the-money short straddle paying 13.1% of where the stock is currently trading. This isn't usually an IRA play I go for, since you won't get paid to wait if you get assigned shares (the yield is absolutely paltry at .10%). However, I'm pretty much in all the plays or in a closely correlated play at the top of the exchange-traded-fund board: XOP (56.2%) (play on in XLE); GDXJ (51.1%) (plays on in SLV and GLD); SLV (47.7%); EWZ (47.5%); GDX (42.9%) (plays on in SLV/GLD); XLE (42.6%), and SMH (39.6%) (no play on).
AMEX:XBI
by NaughtyPines