$XBI Breaking Out of Downtrend Line?

8 באוק׳

I have put on a ½ size position in “anticipation” of a reversal. I have been in and out of the XBI trade several times over the last 2 months. Overall, I have made a small amount of $$$ on several trades.

It looks like it may be in a pennant formation. We will not know that unless it continues upward from here. I have a tight stop on this just below yesterday’s low of $95.92.

Let’s see what happens.

8 באוק׳

הערה

Here is a 10 minute chart and the catalyst for my trade.

8 באוק׳

העסקה בוטלה באופן ידני

Closed this with a very small loss. Did not want to hold over night with no cushion. Original idea is still valid for now. Back on watchlist.

9 באוק׳

הערה

XBI continues to disappoint as it is and has been for a few days, below the 5 DMA. The positive for today is that (so far) it is above today’s AVWAP. However, it is also below yesterday’s and Monday’s AVWAP.
It is still on my watch list with an alert set at $97.20 as it recovers (if it does) the 5 DMA. Let’s see what happens.

15 באוק׳

הערה

I have just brought XBI up to a full size position.