Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Tuesday, March 8, 2011
IBB Biotech Sector Weekly Chart Overbot Rising Wedge Negative Divergence Hanging Man
IBB biotech sector weekly chart in its last throes. Very sick chart, now coming off overbot conditions with a rising wedge, negative divergence and a hanging man candle so far this week. Just blow on it and it will fall over. It's best days are behind it. Price should come down to test the 20 MA at 93 in March. 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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