Buy Signal for XBI on Monthly Chart
June 8, 2022
The biotechnology etf XBI has flashed a buy signal on the monthly chart, suggesting a possibly 6-10 month bounce. We are playing this using the LEAP call options that expire in Jan 2024. Be sure to note the oversold stochastics now crossing higher, the lowest RSI (9) reading in the history of the etf, and the PPO is about to print its first positive bar in 15 months. These longer term signals can take a little while to get started, but so far so good.
