After stock bounced from resistance that is intact since May 2013 and broke down upper level support @ $76 with strong follow through to November lows. Now, it is flagging near lows in front of support. With weak Biotechnology sector and market sitting on resistance it could be start of another down leg. Enter short @ $63.80 Stop above 21 MA @ $66.83 Target...
Last Week on Support: Next Major Rung at $58 $XBI $IBB
$58. $XBI $IBB
Inverted H&S in to a gap - look like a good idea to short , TP @ 200MA. )waiting to buy VRTX @ 56 -58 after reversal sign
Range Trade setup . Doji @ support . Resistance $85.50
Prematurely exited my Jan 40c which would have doubled today. I like even more now.
consolidating out of downtrending channel into earnings Monday after market with long term support close by