XBI has been beaten down severely, but this Inverse Head and Shoulder has a play here.
Biotech is getting more and more bullish from day to day. Even the S&P was falling on Friday , LABU closed on the daily maximum with a nice volume. Rsi is not overbought. MACD couldn't cross down. I think next week a higher high is coming. I would like to see the 50 EMA to cross below the 20 EMA and the 10-20-50 EMA should support the price during the rally...
A move to $40 seems to be in the cards
Volume is confirming, sentiment at extreme positive though
BioTech had started the big rally finally. Record volume today. 22,46% in one day. It's not bad and it's only the beginning. The rally should last 1-1.5 months... Don't touch the portfolio just let it work for at least 1 month. WATCH THE POTENTIAL. We might be talking about 500% this year.... (200$)
I'm going to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Stock trade 2. This is the last portfolio I'm launching....
Biotech (LABU) is ready to rally finally. I think this sector has a fantastic opportunity in 2016-17. This is just beginning next week. We just confirmed the big volume breakout last week. I'M already long in LABU for a few weeks now.. I'm looking for at least 100% in this trade, but even the 400-500% is not impossible. We were coming down from 235 $. I would...
$LABU has been forming higher lows and slowly grinding up towards the 7.95 - 8 resistance level. Will be watching on Monday for a breakout above Fridays high.
$LABU has been forming higher lows and slowly grinding up towards the 7.95 - 8 resistance level. Will be watching on Monday for a breakout above Fridays high.
LABU is 3x tracking XBI, it has been beaten down significantly recently. It is on the verge of recover from the bottom.
Lots sector rotation is going on, and it is time for LABU to get back to business