Look at its history, XBI will pullback from RSI 73 $LABD$LABU tnever sustained for more than a few days above 70!! LOCKED IN PROFIT warned again.
XBI trade ideas
XBI longThe price broke the first channel trend (blue), then broke the second trend channel (pink), and then formed the first wave (1) completed the second wave (2), and now going like a rocket with wave 3.
I am in LABU long from 25. My first target of LABU was 43-45, accomplished, I raised the target to LABU=60 for now. as XBI is going easy to 85-90
Trade with care and make your own Judgment.
Keep in mind - draw this chart days ago, now fully developedPrice is moved right into $62 - the expected top area. I would lock in $
Soon will be a good on $LABD side, see the top?It is very close, so lock in your nice profit from $50!
XBI completed ABCD at major resistance, but RSI is only at 62 Still have room, should be careful on $LABD, could break the $60 resistance. Breaks 60, next 62. Otherwise, this will fall.
LABU - 200 EMA is support nowLast week we haven't just broken the 200 EMA in XBI but we were able to hold the gains.
This is really going to fasten up now. The 200 EMA is a support now and at the time S&P is printing some kind of pullback in the future - maybe after FED's rate hike next Wednesday - XBI will just test back the 200 EMA.
In the next 2 weeks I will be adding to my stock trade positions if we test back the 200 EMA. I think a new bull market is starting here which will run for years with terrible gains.
Gaps will be filled during the run just 2 days ago. These filled gaps are points to add to one's positions.
I will be charting XBI as LABU is a 3x ETF and not good for charting but most of the time I will be trading LABU.
These are just great times. People will talk about the 2016-2019 bull markets even in 2040.
Don't ruin it. Ride it.
May have a few more $ to go based on the channels $LABUThough the candlestick is bad today, and a pull back may happen, but 62 near-term.
may have some more room to go long-termOn weekly chart, may reach to the upper channel I draw last time near 62.
A Play On BIOTECH Here's the thing.. whether you like it or not the Stock Market is heading higher and if you really wanna maximize your upside potential then BIOTECH is where you should park some of your money. Biotech is very much on the move but I would wait for a bounce off the trendline to buy back in -- Momentum is on our side but RSI/Stochastics are showing a tad overbought in the short to medium term.
Ps: And if your balls are made of steel then you might want to take a look at LABU to further capitalize on any potential gains.
XBI great short - My favorite lately REJECT at 200 D SMAHas been supported by markets but not for long. check out 200 day ma..
XBI interesting chart formationAfter the big downtrend line broke, seems like it's just establishing the new uptrend.
XBI remains bearish IMOThe gap may close to 57.30's but I'm expecting it to fall below mid 55's , where it should continue to drop IMO
XBI - At Very Critical PointXBI below every major MA except 100 SMA and this lies on an important point in the Kumo. IMO if this breaks and sell off starts, it could impact the entire market.
$LABU $LABD $XBIBrexit vote coincides with approach of two support trend lines. Brexit bearish for $XBI and Bremain bullish $XBI $LABU
LABU/LABDBrexit vote will determine the medium term trajectory of XBI. Brexit will bring on another down leg and Bremain keeps XBI in the current channel. While bullish on XBI and LABU, there is too much risk for anything but a small position before the vote.
XBI - Daily ChartCould pull back slightly to the 52.74 or even 50.50 level where there's an open gap. My bias is very little room down then a move up to 62.48 or higher. Open gaps at key fibs. Just saying... With market weakness, this would see a sector rotation.
Possible this needs one more flush to 1.618 fib ext at 44.63.
I'm not real sure on this one. Need more price action.. That said macd with a higher high, so I would anticipate a move up to key fibs, then take out the lows
