XBI Price now hovers around pre-pandemic levels, effectively erasing 2 years of gains.. is it repeating 2013-2017 pattern? Testing 200 ema around $104 .. There are similarities...
Just Sharing my view not a trading call. GL
XBI trade ideas
Final Shakeout Before Reversal?Biotech stocks have been hammered over the last year, with many currently trading at or below book value.
A reversal is due.
Some indications of a reversal in the short term with possible test of 118-120:
1. Price broke last low but is currently forming a bullish hammer.
2. Bullish divergence on the MACD histogram.
3. ADX below 20 indicates sell off is weak.
Opened: XBI February 18th 100/132 Short Strangle... for a 2.69 credit.
Comments: And back into XBI (rank/implied 54/37) after closing out my January position. 2.69 credit on buying power effect of 11.30 (on margin); 23.8% ROC as a function of buying power effect; 11.9% at 50% max. As usual, will look to take profit at 50% max; manage sides on either approaching worthless or test.
Closed: XBI January 21st 103/127 Short Strangle... for a 1.69 debit.
Comments: Put this on for a 3.39 credit. (See Post Below). Out today via a good until cancelled order to take profit at 50% max with 25 days to go. 1.70 ($170) profit. It's nice to basically have to do nothing defensively every once in a while.
$XBI - Fundamentally Undervalued, Strong Bounce Off Of SupportI posted the wrong chart when doing my analysis on this ticker last time, so I'm here to update my error!
This is a very interesting sector to keep an eye on after it's gotten relentlessly hammered for the past six months.
There are now over 100 biotech stocks selling below cash, meaning these companies literally have more cash on their balance sheet than their entire market cap! Furthermore, there are 300 additional biotech stocks selling at 1/2 cash (50% of their balance sheet is at least half of their current market cap).
There are an insane amount of bargains within this sector, and the entire sector is poised to make a reversal after a strong bounce off of support, and bullish engulfing candle on the daily.
I wouldn't be surprised to see this entire batch of stocks start to perform very well over the following months. A trip back to the 130s is almost inevitable.
$XBI - Fundamentally Undervalued, Strong Bounce Off Of SupportThis is a very interesting sector to keep an eye on after it's gotten relentlessly hammered for the past six months.
There are now over 100 biotech stocks selling below cash, meaning these companies literally have more cash on their balance sheet than their entire market cap! Furthermore, there are 300 additional biotech stocks selling at 1/2 cash (50% of their balance sheet is at least half of their current market cap).
There are an insane amount of bargains within this sector, and the entire sector is poised to make a reversal after a strong bounce off of support, and bullish engulfing candle on the daily.
I wouldn't be surprised to see this entire batch of stocks start to perform very well over the following months. A trip back to the 130s is almost inevitable.
Opening (Margin): XBI January 21st 103/127 Short Strangle... for a 3.39 ($339) credit.
Comments: Selling ~20 delta premium in biotech with rank/implied at 64/38. 3.39 on buying power effect of 11.62 ($1162); 29.2% ROC at max; 14.6% ROC at 50% max. Will look to take profit at 50% max, manage sides on test/approaching worthless.
XBI BullishBounced of an area of support, relatively tight stop, risking 1 to make 2, should be good for a bounce to the upper resistance line. Just posting my trades not investment advice.
Biotech primed for a move higher?This one is almost pure intuition. We're in pharmaceuticals earnings season now. Seagen reports after market today. A bunch of other large holdings of XBI report on November 3-4, and a bunch more on November 8. Bonds and tech stocks have made a breakout move upward, and small caps look primed. (XBI is full of small and micro caps.) XBI has had a long consolidation here, and I really like the price action on it today. A lot of other sector funds have had mid-day pullbacks, but XBI has maintained its steady upward slope. It has poked above the 20-day EMA. My guess is that this will be green again tomorrow, so I've rolled the dice on a call expiring October 29. I'm also looking for continuation the next two weeks, with a first target of about 131.75.
The biotech sector may be a big winner into the year’s endThe $XBI has been one of the worst performing ETFs this year as the biotech sector faced important headwinds coming from Washington. A cap on prices has been since dropped, which is extremely beneficial for the long term. In addition, from a historical perspective, November and December are this ETF’s strongest months. The candidates for the Ash conference of biotechs will be announced this week which may prove to be yet another positive catalyst. We are long some $XBI calls for January and continue to hold our small bio spec play, $MBIO.
Closing (IRA): XBI November 19th 110 Short Puts... for a .13/contract debit.
Comments: Opened these for 1.71 credit/contract. (See Post Below). Closing here for .13 results in a realized gain of 1.58 ($158) per contract. Although this remains somewhat weak here, implied volatility isn't the greatest at around 28%, so decided not to roll it out; my preference is for weakness plus implied volatility in >35% in exchange-traded funds to take bullish assumption shots.
XBI is Bullish here expect a rally, Good Angles of PressureXBI is bullish here expect a rally, Good Angles of Pressure and signs of a Bottom
XBI Daily SetupAMEX:XBI daily setup:
Double bottom process with 5/20/50 EMAs all tightly converged and accelerating up together.
Entry above today's high at 133.44
Stop below today's low at 130.23
Profit target is 149.50
Risk/Reward is 5.0
Opening (IRA): XBI November 19th 110 Short Put... for a 1.71 credit.
Comments: 30-day implied isn't great here at 34% or so, so this is more about taking advantage of weakness than anything else.
Weekly XBI is squeezing hard and it has nowhere to go but UPWeekly XBI is squeezing hard and it has nowhere to go but up
Bears can try to resist day by day or overreact to SPY moves but ultimately it will go up
XBI is bullish here expect a rallyXBI dropped because of the SPY drop (due to volatility).
However, XBI is still bullish. And SPY rally will help fuel this.
XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37Prediction: XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37 (Resistance line)
Reason: The chart is filled with Bull Harmonic Patterns. From the "Gartley" pattern (recent), to the larger "Butterfly" pattern which gives the overall reversal, to the in between "Shark" Bull Pattern. Every timeline shows new bull patterns.
The Volume Flow is increasing, and the momentum is strong.
Currently, it is consolidating but the bull pressure is too strong. It will pass the next resistance of 130.40 and then reach the resistance of 134.40. (Momentum will probably continue afterwards).
XBI will complete upwards 26 period than go up 1 or 2 cyclesXBI (Small Cap Biotech Index) is due for 2 or 3 upwards movements (includes current wave). XBI moves in cycles of 2 or 3 (or 4 when it became overextended) and in between we have a 1, 1 pattern (it takes a break) where it goes up 1 sideways / 1 down, or 1 up / 1 down.
I predict it will complete the upwards 26 period and then go upwards for 1 or 2 more 26 candle periods (daily timeframe).
The pattern doesn't say if it is going to move for 2 or 3 but it shows that it can be one or the other.
In addition, I factor the current bullish signs for XBI which helps to support this theory.
Note: The stock GH is included but hidden in order to allow me to show the higher pattern. It just a way to scale up the chart.
short term, biotech stocks about to pump the chart has all the descriptions
i will be getting in later after correction right now am more interested in crypto (short term crypto best assets) and energy stocks (mid term energy stocks best assets)
XBI Long LABDI am Long LABD expecting a pull back on XBI. Rejected at 200 day and watching linear regression channels.
