XBI - Starting the year strong with a minor breakout

Lanmar
2023-01-14

$Spdr S&P Biotech Etf(XBI)$ XBI - Starting the year strong with a minor breakout

Biotech stocks have been my focus as many are showing significantrelative strengthand posting new 52 week highs. I got long XBI yesterday on the break of $85.


Something to consider - stocks well below theirall-timehighs have a lot of supply to contend with, so the probability of a smooth trend out of a base tends to be lower and raises the probability of failure.

The larger degree consolidation could look like this if the selling isn't absorbed by enough buyers at resistance:

https://www.tradingview.com/chart/XBI/fSO4xesR-XBI-Starting-the-year-strong-with-a-minor-breakout/

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Comments

  • Samlunch
    2023-01-14
    Samlunch
    Good call i hope it runs
  • daz888888888
    2023-01-14
    daz888888888
    I warm your socks so that your stocks go up
  • Greenhulk
    2023-01-14
    Greenhulk
    oo
  • Reaper709
    2023-01-14
    Reaper709
    🤟
  • Art77
    2023-01-14
    Art77
    Ok
  • Ha0
    2023-01-14
    Ha0
    ok
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