prepared for different scenarios but overall continuing bear for biotech. this sector is going to get hit hard from annual plans for labs, and whether we hit top of envelope first or revisit bottom sooner were still in an overall end of bullish corrective phase from bear market leaving lows open for test.
Looks like a nice long opportunity brewing here. Tell me, what do you see here?
this is a top gainer today that could still go either way. if we stay above retracement we could reach for daily highs and beyond. maybe high 26s. much more likely is diving back below envelope and retesting signal, estimate, bottom of envelope around the .5 retrace.
labu just completed a breakout from the abcd pattern and im anticipating a bull flag breakout to 13, then 19, in which I then see a retrace to form the handle to the base of the cup
looking for a retrace of the .618 fib level which should give way to the cup/handle breakout pattern of $xbi also notice price action at the top of the wedge
*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* Mirum Pharmaceuticals announced a shelf offering of $10 million today. This...
Black Diamond Therapeutics, Inc., a biotechnology company, discover, develops, and commercializes medicines for patient with genetically defined tumors. It develops BDTX-189, an irreversible small molecule inhibitor that is designed to targets oncogenic proteins defined by the non-canonical epidermal growth factor receptor (EGFR) and human epidermal growth factor...
$XBI biotech ETF developing a possible inverted head and shoulders bottom formation neckline breakout 93.50
SPDR S&P Biotech ETF ( AMEX:XBI ) Sector: Miscellaneous (Investment Trusts/Mutual Funds) Market Capitalization: $ -- Current Price: $81.20 Breakout price: $84.40 Buy Zone (Top/Bottom Range): $80.50-$74.75 Price Target: $99.10-$100.80 Estimated Duration to Target: 75-81d Contract of Interest: $XBI 12/16/22 85c Trade price as of publish date: $5.40/contract
Both $QQQ and $XBI made a bullish reversal open on 27 Sep., however QQQ sold down while XBI moved higher. When the daily candle on XBI (or candle pattern) does not match that on QQQ, take note. I have added lines to highlight examples, and these mismatches often occur at turning points with XBI indicating direction for QQQ. It is not a sure predictor, as you can...
Good looking channel break with an inverted head and shoulder neckline target of $91,65 Resistance is expected at this level.
AMEX:LABU LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. On this 15 minute chart, consolidation at support is seen in July, Price then rapidly rose into a triple top in mid-August followed by a descent into a double bottom at...
Catalyst Pharma (CPRX) is an absolute monster. Not only is the company posting huge sales and earnings growth in a sector that rarely has either, the stock has more than doubled over the last few months. There are 801 stocks in the biotech group tracked by Investors Business Daily, and CPRX ranks at the very top (see image in chart). After such a large advance...
NBIX is in the biotech sector which I have been highlighting for several months as one of the strongest areas in the market. After emerging from a textbook breakout pattern in early August, shares have consolidated in a tight handle formation. If you look at the relative strength line at the top of the chart, you will notice three pink dots over the last several...
Incredible hammer but low volume. Sold some puts this morning 160P for September regular. I don't mind owning this dividend stock if I get assigned.
*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management My team entered Mirum Pharmaceuticals $MIRM today at $25 per share. Our...
The biotech sector is presenting exciting opportunities for investors despite the broader downturn in global equity markets. Many of the best biotech companies and ETFs have both strong drug candidate pipelines in the works as well as winning drugs and therapeutic products already on the market. The COVID-19 pandemic has proven and created massive opportunities...
Argenx is another biotech stock setting up in a textbook breakout pattern. Shares traded up through resistance Monday morning on good volume, but the move was ultimately held back by a nasty overall market. ARGX still held up well, and will likely continue its advance higher.