"Biogen Inc. rose the most since November after it received approval for its controversial Alzheimer’s disease therapy. Competitors including Eli Lilly & Co. and AC Immune SA also rallied, helping push the Nasdaq Biotech Index toward the highest since late April." (Bloomberg, 6/6/21).
Will we see NAS push to April's high or will it reject off of 13830? I feel as though a 200 point movement to the upside is too much to ask for with the concerns over inflation still heavy above our heads.
Big move likely to happen during Asian but i'll be asleep. Ha.
Zones and channels marked out to the downside ready to buy from if it does end up crashing though.
Will we see NAS push to April's high or will it reject off of 13830? I feel as though a 200 point movement to the upside is too much to ask for with the concerns over inflation still heavy above our heads.
Big move likely to happen during Asian but i'll be asleep. Ha.
Zones and channels marked out to the downside ready to buy from if it does end up crashing though.
Trade active:
No move happened during Asian but when i woke up there was some promising price action to the downside so i entered with small lots and reasonably tight SL (about 20 points). Just going to let this run and see if i can catch the move down. Some USD fundamentals later so we'll just see what happens.
Trade closed: stop reached:
Stopped out at breakeven. Going to wait for more confirmation before i make my next move.