Tracking Stocks Biotech

XBI Biotech  Getting some decent reversal action here after retesting the 200 day moving average, and this close now back above the 50 day average. All about follow through now. Note the resistance overhead. Potential breakout above the (downtrading) line.

XBI  Failed breakout  attempt.  No position

XBI Breakout attempt

XBI 2nd day pushing back above the 200 day moving average is confirming strength.

Good probability factor.

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XBI LABU Longer term this is still trading in a range so based on that and the high volatility (that’s normal) on this ETF, makes it a difficult one to chase. And so would consider locking in some profits into any significant rally. That said, one of the better setup that I’ve seen in some time. 200 day moving average now key.

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XBI A strong (breakout) move today on increased volume e confirming our expectation nicely; closing back above significant resistance, telling me this could now go higher. Worth noting the (up trending) 200 day moving average.

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This bounce attempt, closing back above the 20 day moving average has my attention once again on this Biotech ETF

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XBI LABU  Biotech ETF’s  10:14 PM  Now confirming recent expectations. (see more charts below)  Getting a solid bounce after retesting key support; the previous point of resistance for this ETF at 85.50.  Potential breakout. Continuation higher, likely.

Biotech  Setting up better than ever at the start of this new year. Potential breakout in this sector.