Let's talk S&P Biotechnology stocks. The core position is long, but another opportunity may be coming.
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Disclaimer: Content provided by Eric De Groot is intended as general information and not specific recommendations. Individuals are responsible for their own investment decisions. Past ...
Disclaimer: Content provided by Eric De Groot is intended as general information and not specific recommendations. Individuals are responsible for their own investment decisions. Past performance does not guarantee future performance. Opinions are based on historical research and data believed reliable, but there is no guarantee results will be accurate or profitable. Not responsible for errors or omissions. I may invest in the vehicles mentioned in my articles. Readers are encouraged to conduct their own research and due diligence and/or obtain professional advice before making any investment decision.
Good analysis. However, you missed the hourly chart. The biotech correction on the daily is possibly over. Why? Because the daily averages crossed and point upward on hourly chart. Talking daily, the current candle is perfectly sitting on the trend line support and between the 10sma and 30 ema with $XBI on a intact uptrend. So all stars seem aligned for the XBI to resume in a upward channel.
True, but remember that anything can happen again in the stock market. You do your due diligence but in the end it is closer to a casino than a market 😂
Good analysis. However, you missed the hourly chart. The biotech correction on the daily is possibly over. Why? Because the daily averages crossed and point upward on hourly chart. Talking daily, the current candle is perfectly sitting on the trend line support and between the 10sma and 30 ema with $XBI on a intact uptrend. So all stars seem aligned for the XBI to resume in a upward channel.
True, but remember that anything can happen again in the stock market. You do your due diligence but in the end it is closer to a casino than a market 😂