Looking at the recent price actions from the 2021 highs, XBI is down roughly about 50%. From a longer standpoint, you can see the Biotech Sector ETF had a very nice rally, a bull flag, and ended up having the second half of the move to the upside.
Overall, Biotech is setting up daily and 30-minute chart patterns that point to pop and rally of 8 – 15% in the next 1-2 weeks.
Video Length: 00:04:58
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I am an internationally recognized market technical analyst and trader since 1997. Through Technical Traders Newsletter my ...more
I am an internationally recognized market technical analyst and trader since 1997. Through Technical Traders Newsletter my mission is to help clients boost their investment performance while reducing risk exposure and portfolio volatility. Through years of research, trading and helping thousands of individual traders and investors around the world I designed an automated algorithmic trading system indicators for the S&P 500 index which solves investor’s biggest problem related to the stock market - the ability to profit in both a rising and falling market. My focus is to educate individuals on how to swing-trade indexes, stocks, ETF's, precious metals, and energy at: TheTechnicalTraders.com. I am also the Founder and Chief Technical Analyst of TheGoldAndOilGuy.com.less