Review this recent post on our trading blog to see the bearish setup for
$ IBB.
About five years ago, iShares NASDAQ Biotechnology ETF (
$ IBB) kicked off a massive uptrend that lasted 3 1/2 years and led to a 400 % gain.
That same moving average crossover happened in
$ IBB last September as well, BUT the 10 - week MA fell back below the 40 - week MA (until two weeks ago).
If you profited from
this $ IBB trade with our entry and exit signals, or perhaps managed the trade in a different way, feel free to leave us a comment below.
The daily chart pattern below details our exact entries and exit prices for
the $ IBB swing trade.
iShares NASDAQ Biotechnology ETF (
$ IBB) About five years ago, iShares NASDAQ Biotechnology ETF (
$ IBB) kicked off a -LSB-...]
On September 6, via Courtesy Trade Confirmation alert to subscribers, we confirmed the exit of
our $ IBB position when it hit the official target price of $ 140.80.
These bullish signs indicate that
$ IBB may soon reward astute traders with a breakout that carries it 13 - 15 % higher from here (next resistance is ~ $ 340).
$ IBB) is this type of setup.
We scratched on one position ($ AMLN), and locked in small gains on the other two long positions (
$ IBB and $ LF).
Based on the weekly and daily chart patterns above, we have officially added
$ IBB to our watchlist as a potential swing trade setup on the short side.
This is shown on the weekly chart of
$ IBB below:
Notice how the recent highs of
$ IBB over the past few days correspond to the highs of the «left shoulder.»
Our short setup in iShares Nasdaq Biotechnology Index (
$ IBB) remains on our watchlist as a candidate for potential swing trade short sale entry going into today (December 17).
After showing market leadership throughout 2011 and much of 2012, iShares NASDAQ Biotechnology Index (
$ IBB) has spent the past few months digesting gains and building a new base above long - term support of its 200 - day moving average.
Although money rotated out of
$ IBB in the fourth quarter of 2012, the price action has recovered nicely.
With a bit of help from the broad market,
$ IBB could soon see a volatility expansion and breakout above the highs of the range (above the $ 148 level).
Regular subscribers of The Wagner Daily should note our clear, predefined trigger, stop, and target prices for the $ QQQ and
$ IBB trade setups in the ETF Trading Watchlist section of today's report.
The rectangular area on the chart above is our ideal «buy zone» for
$ IBB ($ 149 to $ 150 range).
First, let's take a look at the longer - term weekly chart, which shows that
$ IBB just broke out above a valid base of consolidation last week:
One ETF on our radar screen for potential pullback buy entry is iShares Nasdaq Biotech Index (
$ IBB).
At the opening bell of last Friday's session, we sold our position in iShares Nasdaq Biotech (
$ IBB) for a modest gain.
The biggest gainer was iShares Nasdaq Biotechnology ETF (
$ IBB), which broke out above its recent consolidation and cruised 1.5 % higher.
In today's stock pick video, we discuss the potential swing trade setups in 2 stocks and 2 ETFs: $ SPY,
$ IBB, $ TPX, and $ MW.
Because biotech has been one of the strongest industry sectors for many months of the current bull run, it will be important to see how
$ IBB reacts in the coming weeks.
More concerning is that
$ IBB sliced through its 50 - day moving average with ease, as volume surged higher as well:
One such ETF to put on your watchlist is iShares Nasdaq Biotech Index (
$ IBB).
Not exact matches
The iShares Nasdaq Biotechnology ETF (
IBB) hit a high of
$ 300.29 Thursday, and closed at
$ 300.08, just below the
$ 302.40 level hit in January.
Ultimately, Ross believes that when the breakout above
$ 300 does occur, the
IBB could rally as high as
$ 325 — or another 10 percent from current levels.
Last Thursday, September 6, we sold
IBB for a 7 - point gain when it hit our original price target of
$ 140.80.
Which likely means we can continue to see the
IBB just continue to trade in place, in the
$ 285 to
$ 305 range.
From February of 2016 through June of 2017
IBB traded in a tight range from
$ 83 to
$ 98 while Donald Trump continually fired shots against the healthcare sector.
The sustained sell - off lead to the entire cohort to sell off from all - time highs of
$ 132 to
$ 83 or 37 % in only 6 months as measured via the iShares Nasdaq Biotechnology ETF (
IBB).
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