IBB trade ideas
Biotech Double Bottom (+ Divergence & Bollinger Reversal)Technical Analysis
1. As you see in the chart, we have tested the 200ema 3 times in the past; and it has not trade below it since April 2020.
We have made a spinning-bottom on a downtrend, coincidental with a 4th test of the 200ema.
2. RSI and OBV show a positive divergence as the bottom from 2 weeks ago (Test #3) was at a lower level.
3. Bollinger Bands give us another bullish signal, as the first low (Test #3) was outside the lower BB, and the second low (Test #4) was inside the lower BB.
Trade Setup
A break below Test #3 which is $142.47 could be a potentially good place to set a stop-loss exit.
Short-term target to the upside --> $160.5
Mid-term target to the upside --> $170
Trade with care
Biotechs To Watch This WeekMy Watchlist:
FDA Hype:
$EARS
$KDNY
$GLSI
$MTEM
Potential Swings:
$GENE
$BTX
$TENX
$EYES
$ZLAB
$LLY
Like and follow for more biotech ideas :) Happy Trading!
Biotechs To Watch This Week (FDA Hype Edition)My biotech watchlist for this week:
FDA Hype
$GLYC
$AGEN
$GLSI
$ONCY
$MTEM
$ALPN
$ALPN
$CMPI
$ATXI
Potential Swings
$CTXR
$UBX
$ZLAB
Like and follow for weekly bio watchlists :) Also please comment your favorite tickers; I would love to hear what you guys think.
Happy Trading!
IBB H4: 25% gains TP HIT / congrats! (RECAP/REVIEW)Why get subbed to me on Tradingview?
-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates
IBB H4: BEST Level to BUY/HOLD 25% gains(SL/TP)(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Congrats if you followed the original setup.
click play to recap it. razor sharp entry.
🔸 Summary and potential trade setup
::: IBB 4hour chart review and outlook
::: Biotech sector outperforming market
::: due to coronavirus
::: so far in 2020 YTD gains
::: BUY dips / buy the pullback
::: noteworthy compression now
::: BUY close to 130 USD
::: is the best strategy BULLS
::: wait for pullback/dips and BUY IT
::: recommended strategy: BUY LOW 130 USD
::: SL 5% TP is 155/160 USD +25% gains
::: BUY/HOLD setup
::: DO NOT expect overnight gains
::: This is stock market
:::Not casino in Macau
🔸 Supply/Demand Zones
. N/A
🔸 Why should I follow your setups?
:::Check track record it's all been posted
::: MRNA 200%+ gains, NVAX 300% gains, REG 60%
::: AMD 40% gains and a lot more in 2020
The Bigger the Base, the Higher Into SpaceIBB made all-time highs after a 5-year consolidation.
The raising 200DMA is supporting the uptrend.
IRON TARIHi guys!
New Iron condor, chek my last trades, and get my script for free!
Enjoy your wallet!
Tari.
IBB H4: BEST Level to BUY/HOLD 25% gains(SL/TP)(STOCKS)Why get subbed to me on Tradingview?
-TOP author on TradingView
-15+ years experience in markets
-Professional chart break downs
-Supply/Demand Zones
-TD9 counts / combo review
-Key S/R levels
-No junk on my charts
-Frequent updates
-Covering FX/crypto/US stocks
-24/7 uptime so constant updates
IBB H4: BEST Level to BUY/HOLD 25% gains(SL/TP)(STOCKS)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: IBB 4hour chart review and outlook
::: Biotech sector outperforming market
::: due to coronavirus
::: so far in 2020 YTD gains
::: BUY dips / buy the pullback
::: noteworthy compression now
::: BUY close to 130 USD
::: is the best strategy BULLS
::: wait for pullback/dips and BUY IT
::: recommended strategy: BUY LOW 130 USD
::: SL 5% TP is 155/160 USD +25% gains
::: BUY/HOLD setup
::: DO NOT expect overnight gains
::: This is stock market
:::Not casino in Macau
🔸 Supply/Demand Zones
. N/A
🔸 Why should I follow your setups?
:::Check track record it's all been posted
::: MRNA 200%+ gains, NVAX 300% gains, REG 60%
::: AMD 40% gains and a lot more in 2020
$IBB - testing high groundBiotech ETF is holding a 5-year base breakout as it pulls back from a recent run-up close to new high. Lots of individual names with strong sales setting up in, and breaking out of bases. There's a future here. The industry breakout is ripe.
IBB wave checkLooks like ABC pattern just wrapped up and another wave has already played out as well.
EW could be so complicated so we don't know what pattern will be going forward at this point.
The RSI bullish divergence was missed though. hats off to those who caught it.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
$IBB Testing Breakout of 5-Year Base: $BPMC $FATE $INSM $XLRNStrong fundamentals from these names setting up in bases: $BPMC $FATE $INSM $XLR
.Bio tech has being doing absolutely nothing during the past 5 yrs, 124 is the level you want bulls to hold if you are long. Avoid the chop until we break out.
Biotech ETF Tests the 50-day SMABiotechnology has been one of the stronger sectors this year. It’s benefited from the combination of Covid treatment hopes (vaccines + therapeutics), and the macro backdrop (low rates/negative GDP).
As we highlighted earlier in the month, the iShares Nasdaq Biotechnology Index ETF broke out to new highs in late June and has been holding its ground above those peaks. Today it chopped back down to test $135, which has emerged as support since our last post. (That $135 line is also near intraday peaks a few times in May.)
The other big line is the 50-day simple moving average (SMA). IBB recently bounced there, and now prices are revisiting it.
This idea isn’t super fancy, but these are classic patterns in a sector that could make sense fundamentally. Biotechs are a long-term secular growth story. Long-term trend followers may like the risk/reward near the confluence of these flat lines and the 50day SMA.
