IBB might retrace at 290.6Might be a good chance to long LABD.
A further dip in LABD is a buy. Stoploss 296.67
IBB trade ideas
IBB: Time at mode downtrend failure is a wake up callThe implications are that since IBB failed to hold below 282.68 and drop with the market, we might see a strong risk on move accross the board.
We can also examine BID to find it's holding earnings support.
These two stocks can tell you a lot about the direction of the broad market, as illustrated by Tim West in his publications.
I am net long again, but with an open mind. Until FOMC, I doubt the market falls again, and we might even make a new all time high.
Cheers,
Ivan Labrie.
IBB LONG looking to go long between 270 and 280
I feel the pharma biotech stocks are a bit over done,, good support underneath
IBB and the 200 day moving average If this breaks the 200 MA then this is range bound again and could see 250. Wait till it breaks the 200 MA so your not caught in a head fake. If you look at the weekly and monthly chart you can see this same trade setting up.
$IBB drop to previous supportIBB tends to follow the RSI, at this level of high RSI tends to trend lower. Expecting a small pullback to previous support in the next week or so.
IBB BIOTECHRECENTLY most of the biotech companies are doing bad but somehow this ETF is going up. I saw weakness in technical analysis of monthly charts but weekly and daily needs to go down before shorting. Think this IBB bull will be ashort lived and once broken it will be a free fall zone. Leap options for short side will be a good bet. Don't go short yet but a good candidate for follow up.
Trade Closed IBBThis has been a great trade for me. I sold my shares today after deciding to lock in profit. The market is having trouble getting above the white resistance line. If price breaks above 287 with high volume i will buy again, but for now, I'm locking in profits and getting out.
Interesting comparison of XBI/IBB and Shanghai indexexactly the same timeframe... if they keep 'emulating' each other, imaging the opportunity in both of them
IBB Highly prbabable a Top is made @ 274.81 thus ,making a lower High
Upside momentum runining out of steam , Stochasticas in Overbought territory There is a high probabability IBB will be testing May lows @ 240.30
Sept 265 Puts little OTM @ $9.30 I.V 24.72% , ( @ 12 percentile of its rank ) are cheap
Estimated time to be in the trade 2 3 weeks
IBB ShortBioTech looks to be topping out. Bearish RSI divergence signalling potential top. FIb levels for potential reversal points included.
IBB/XBI this wedge is getting smaller and smaller, soonerthis wedge will break, then the uptrend starts, won't take long to see it happens.
Biotech signals a long Entry: Market (min 1.8R)
Target: 281.16 (I will take conservative target)
Stop: 255.86 (1 ATR from PD close-- not optimal but necessary for R in this scenario)
Biotechs good risk/reward IBBIt seems like the blue resistance around 246.50 is holding. Biotechs will likely be ranged bound and go back up to around 290 as investors fearful of the impact of Brexit look for solid yields and value buys. Also this trade offers a great risk reward ratio, if price goes below blue resistance exit trade.
