Since all-time highs, AMEX:XBI has developed 2 head and shoulders and is currently developing a third one. Given how overbought AMEX:SPY is and how troubled AMEX:XBI and NASDAQ:IBB are, I suspect this pattern will form. My target is roughly $38.
SYNOPSIS: MARGET GEOMETRIES: - GEO: This represents a high-probability event, whereby two Geos have a shared 5-second point defined. As per the Geo's Off-Set Rule list, this third condition calls for a limited rally to the price level corresponding to Point-3. - JANUS (Proprietary Pattern): A prop pattern is lending support to a probable near-term support...
Big short potential if IBB doesn't break back into the wedge tomorrow (2/11). Ill be looking to add more LABD by the end of the week if we don't see a bounce. This could be a big one!
IBB (Bio Tech ETF) had been on down turn since the last hurrah in July. It has been doing a beautiful correction A B C waves - currently at the end of wave (c) of C. Wave A is a double 0.5 X 1 move of the Gann Box Wave B is a 1.272 X 0.5 of the first Gann box. Wave C so far has been a 0.5 X 0.766 (although it might end up at 0.618 and 0.886 or 1) This movements...
The has been absolutely no fundamental change to this bio company that has multiple big pharma partners. Yet due to the overall biotech downturn NASDAQ:PIRS was hit pretty hard. This presents a true 10 bagger opportunity , and Im not even remotely stretching the truth. The technicals show you why right now is the PERFECT time to buy. A little due diligence will...
about to break much higher 30m:
Harvard Apparatus Regentive Technology is a bioscience company working on more natural heart valve replacements and other pretty cool biotech stuff. However my interest is because the way they are ramping up for another go after moving from $0.60 to $3.25 in less than a month. This is shaping up to be your typical "head and shoulders" scenario. HART's 1day MACD...
The Biotech bubble bursting hits Nasdaq and makes it the weaker link in the indices chain. It all began when $IBB broke below 360$, closing below its Fast SMA line, providing the bearish signal by breaking down the weekly uptrend line (see point 1) August's declines lead $IBB to re-test another weekly uptrend line and the 300$ support zone - This created a rally...
Biotech bubble has burst. Every rallies are to be sold, and despite the euphoria/new highs in S&P and Nasdaq have barely registered a decent retracement in the biotech sector.. Here's a larger picture of how far biotechs have went since 2008: The uptrend in S&P is limited, and it will only be a matter of time before it collapses off this rising wedge....
You can thank that little price hiking hedge fund manager and people like Bill Ackman for the Healthcare/Pharmaceutical correction. Looking at the weekly using Fibs as reference points i believe healthcare over the next few months will begin to sell. I have a target of the 1.618 extension of 59.76 and a second target of 53.31. I'm using XLV to short because...
- Qysmia looks to be gaining from new online marketing efforts - Endo will start promoting Vivus' ED drug - 36% short interest! - Institutional investors adding at these levels - Recently hit a 10-year-low, but things have never looked brighter for VVUS PT: $10 Timeframe: 18 - 24 months (possibly sooner, depending on how ED drug sales are) Disclosure: Long $2...
This chart is a little busy so allow me to explain what whats going on here. The Green trend lines is long term support/resistance formed in the 4th quarter of 2012. The red trend lines were formed in late 2014. And the blue trend lines is the most current trend. Ultimately, I think we are going to get a prolonged period of sideways volatile action out of...
Above ema 20 at 76.4 on daily... (A nice fib number too) and the stock will move. Might have to see the middle BB giving support before move. It's a heavily traded handle. Safe trading ladies & gents! @BLawrenceM I have moved on to do many of my publications on my Twitter account due to the easier and much quicker way of making follow up charts. Follow me there...
With the new pressure on Bio's upon us I wanted to take a look at a stock I have long liked and especially like at this level. With new patents and a bunch of new drugs in the pipeline it will happen quickly and suddenly. The chart shows great strength as it has held up when others have fallen and I look for a move over the next month to 4.66. All it needs is a...
After breaking and violating my previous setup on $IBB, the selling action we've seen on expiration date could mean that options traders finally think $IBB has reached too far. When this selling action comes with a daily bearish AB=CD pattern, it becomes interesting. If indeed we will see a pullback, the first point of interest will be the meeting point with the...
Sifting through the biotechs I came across this head and shoulders opportunity. Volume pattern confirming so far. We might be close to breakdown. Also notice the RSI trend and latest high right around 51. I suggest a stop above 110, which is about 2x ATR and gives some room. The biotechs as a group are pretty bullish at the moment, so this trade could act as a nice hedge.