Just a pullbackTake a look at the Volume Rate of Change and my notes. If it falls it is just a pullback.
IBB trade ideas
IBB from Monthly and WeeklyI traced IBB from the beginning of it upward sloping trend on a monthly chart.
Surely, if it continues to pullback, it will just fall to the purple trend line or the blue one. The blue one is right where there is horizontal support is.
On a logarithmic chart, the purple is 15 degrees in slope and the blue is 32 degrees in slope. So, IBB may go range until it go to these trend lines.
IBB - Biotech - Hot Burning Although there could be a correction in between, it may not be over.
The top could be at the end of the summer around 420.
That would complete a 640% rally since 2009. Remarkable.
The final stages of such rallies can be asymptotic and overshoot.. That could be in the next few month (Maybe after an intermediary correction).
Perfect reversal from AB=CD pattern posted previouslyThe daily bearish setup posted here on TradingView, based on AB=CD pattern, is heading in the right direction after a perfect reversal at the PRZ.
First target - 300$
It is now or never for this AB=CD pattern$IBB at new ATH and inside the PRZ of this daily AB=CD harmonic pattern. 330$ should be the top of this spike high for this pattern to work
Biotechnology - Final Firework to 350?
That would be 10% up from here.
This index is constantly overbought for long while now.
You need to have a strong case to attempt shorts - 350 soon would be one of those.
if 350 before March - might be worth trying short.
Bearish AB=CD pattern in this week's newsletterRead the full analysis for $IBB in this week's Weekly Markets Analysis:
marketzone.tumblr.com
Bearish AB=CD pattern and some Fib extensions provide an interesting setup towards earnings season
IBBDouble Bottom - I've been told only rookies call this a double bottom because it's not at the bottom of a trend. Equal Bottom is said to be correct. But then I'd be accused of copying someone's work - so I'm stuck :)
IBB ( Daily )IBB ( Daily )
Potential Bull Flag brake_out. ( abcde waves )
Clearing 300 level, opens the door for further upside.
IBBSimilar look to ILMN. Wonder if we may see some rotation out of this leader from the correction into value like XLE
IBB, GILD and CELG - Is this where we see a bear channel build? As you can see this issue has broken its green uptrend to the downside. Now its all about whether or not this issue and those who look like it (CELG, GILD) build out bear channels (orange) and then break to the downside once they complete a bear channel. Later today I'll be posting more charts that look like these so stay tuned for more.
These are not recommendations. Strictly for informational purposes only. Do your own research.
Biotech sector-IBB, XBIBiotech sector has been on the boom since 2012, the uptrend seems continuing
Quarterly chart wise, it has shown some euphoric state.
We have a serious bearish RSI divergence shown, breaking of the uptrend line in RSI has serious
long-term consequence and detrimental to further uptrend.
Biotech sector - daily entryThis is my entry on the biotech sector. I believe this is a top. The moment this will go down, I will start adding to my short position.
Biotech Sector - Biotech sector is what you want to buy! Buy biotech! Everybody knows that right? Who doesn't know that you have to buy biotech stocks should not be trading stocks at all right? This sector is going down!
The patterns are explained on the chart. Check out the daily chart with my entry that is coming in a few minutes.
Easy Money Made? Long Road Gets Unclear From Here to $245 atRising Wedge/Horizontal Resistance. $XBI
IBB in tight mid-level rangeThe Biotech ETF has been hovering around 8 and 21 day EMA to build a tight range. Mixed action but still above 200 EMA at $222.30 which acts like support.
Powerfull breakout above $233.80 could attract more buyers.
But I will be watching both sides.
