IBB biotech sector daily chart shows the negative divergence smack down in January. Indicators want to remain sloping lower so if price can go up to 97.50 , that will be enough to lock in the negative divergence and provide the sell signal. That action would then carry out the longer term negativity shown on the weekly chart. The 20 MA is under the 50 MA which is bearish. Looks like IBB is giving traders a couple days to exit, sometimes traders never receive that opportunity, but with price now at 96.63, may be best to git while the gittin' is good. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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ReplyDeleteLindsay Rosenwald http://www.lindsayrosenwald.info/ Dr. Lindsay Rosenwald is one of the re-known venture capitalists and the hedge fund managers in the world