TrendSpider_Jake
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A look at the XBI chart and price action from last week below:
1. The price of XBI is the only ETF that blasted through the SMA (20) last week in the middle of the downward price channel. If continuation occurs on Monday, the channel resistance could be tested above.
2. The Vortex indicator VI- recently crossed through the VI+ which has confirmed more upside in the past.
3. The MACD is looking very healthy into next week with the fast continuing to break away from the slow but still under the zero line (line in which the histogram oscillates around).
4. The Williams %R is breaking out through the resistance Trendline similar to the last time back in October. However, this proved to be a fakeout in October so a blast to the upside towards overbought is going to be needed for this momentum to continue.
1. The price of XBI is the only ETF that blasted through the SMA (20) last week in the middle of the downward price channel. If continuation occurs on Monday, the channel resistance could be tested above.
2. The Vortex indicator VI- recently crossed through the VI+ which has confirmed more upside in the past.
3. The MACD is looking very healthy into next week with the fast continuing to break away from the slow but still under the zero line (line in which the histogram oscillates around).
4. The Williams %R is breaking out through the resistance Trendline similar to the last time back in October. However, this proved to be a fakeout in October so a blast to the upside towards overbought is going to be needed for this momentum to continue.