XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37
Prediction: XBI (SPDR S&P Biotech ETF) is Bull to at least ~134.37 (Resistance line)
Reason: The chart is filled with Bull Harmonic Patterns. From the "Gartley" pattern (recent), to the larger "Butterfly" pattern which gives the overall reversal, to the in between "Shark" Bull Pattern. Every timeline shows new bull patterns.
The Volume Flow is increasing, and the momentum is strong.
Currently, it is consolidating but the bull pressure is too strong. It will pass the next resistance of 130.40 and then reach the resistance of 134.40. (Momentum will probably continue afterwards).
Reason: The chart is filled with Bull Harmonic Patterns. From the "Gartley" pattern (recent), to the larger "Butterfly" pattern which gives the overall reversal, to the in between "Shark" Bull Pattern. Every timeline shows new bull patterns.
The Volume Flow is increasing, and the momentum is strong.
Currently, it is consolidating but the bull pressure is too strong. It will pass the next resistance of 130.40 and then reach the resistance of 134.40. (Momentum will probably continue afterwards).
Kommentera:
Accuracy is much higher now. Ignore my first 6 stock ideas posted July/August 2021.