ProShares Ultra Nasdaq Biotechnology seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Nasdaq Biotechnology Index®.
We into the retracement of buy ( long term ) cycle, which means a re-accumulation would happens before it starts moving upward seriously again. On the daily supply is still pretty heavy, which tells me more absorption of it have to happens and a spring ( move downward on steroid) is even a possibility to happens right now, which means price would go test lower...
overlapped the ribbon to help with the visual. Embedded stoch and 9/20 mov avg pinch equates to more upside
Textbook chart of an ending bottom and new uptrend starting. I don't want to miss out on this one, this could easily become the trade of the year. The breakout is now confirmed, but i want to wait for a nice correction before entering. S&P Biotech: Blessings to you all.
4 days ago I projected a "Pull-back" on BIB daily chart. But where will it stop and rebound? See chart for four possible targets.
Failed to push beyond daily resistance. Bearish.
Industry: Biotechnology EPS due date: n/a, ETF Horizontal S&R: some Channel S&R: no MA S&R: some, 20ma >200ma: yes Volume confirmation: no Candle Confirmation: no Stoch Divergence: no Reg Trendline >85: no Short Float: no Risk / Reward: 1.2 Any feedback is welcomed. Kind of a neutral setup. But its a beaten up sector, maybe time to bounce.
Monthly support shelf is holding in cloud so far. Kijun is flat which means prices are in range . Weekly: We got reversal from support zone . this support has been tested 4 times and we bounced again. Still below coud and at 200 sma Daily: Prices testing cloud top. we have tk cross. Watch it for now. A close above resistane might cause prices to catch up to...