IBB: The time is now...tight risk, huge reward potentialI think @timwest's idea that #TSLA and #IBB both represent innovation and disruption, and so, #IBB should correlate #TSLA (which has been the case so far), gives us a good opportunity as a less evident catch up play, to follow #TSLA's violent climb.
Perhaps some company in the portfolio manages to find a vaccine that resolves the Coronavirus crisis, as a possible catalyst to boost the ETF higher.
The technical chart is absolutely perfect now, we have a daily and weekly explosion pattern setup, where most of the recent highs align near the same zone, and price breaking out above them.
I will add some more detail as updates, lower timeframe and higher timeframe charts, as well as other interesting tidbits supporting this idea.
For full disclosure: I'm long #IBB and #BTC currently, sold #TSLA for now, not in a rush to buy it back. My clients receive timely updates to benefit from my derivatives trading and my position shifts in my stock, crypto and FX portfolios.
If interested in being part of this community, message me for more details.
Cheers,
Ivan Labrie.
