What’s The Big Idea?
My weekend report had over40 charts, some for educational purposes and others to point out a few trade set ups. We have been focused on specific sectors and I wanted to focus on what I think could be important at this moment. I'd like to share a small portion of that with you here.
IBB - One area that I've been stalking lately is the the Biotech sector. It has been bottoming for over a month and broke out recently. Lets review what we've been watching.
IBB March 21= double bottom base
Nice break out (But notice the resistance on the left. Were there buyers there hoping to sell at break even?).
IBB WKLY - Apparently so, sellers may be present, but I expect this to go higher when they are out of the way. Thats a nice base. Support is now near $270-$275, The saying is "Buy the dips , sell the rips".
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SO I HAVE BEEN DISCUSSING BIOTECH IN MY REPORTS
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