ShakeShakeLeg
Long

Biotech is where the cool kids are doing!

NASDAQ:IBB   ISHARES TRUST
What I see...
+ Prices pulled back from $136 to find support from the rising 10ma
+ Friday's bar painted a bullish engulf-like body within a NR7 on very low volume! This is like a spring that is compressed and getting ready to bounce!
+ RSI is at 61 and has just turned upward
+ MACD is flat in the bullish zone

- MACD is technically below signal line
- $136 is first resistance

What I setup...
+ Long entry above Friday's high
- Stop under last week's low
+ Target at 1.618Fib
:: Duration - weeks!

** Comments and Likes are appreciated; New Subscribers are stronger than biotech! **
Trade closed: stop reached: Stopped out at -1.02R

Comments

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