{"id":33890,"date":"2016-04-07T03:58:57","date_gmt":"2016-04-07T10:58:57","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=33890"},"modified":"2016-04-07T03:59:59","modified_gmt":"2016-04-07T10:59:59","slug":"ishares-nasdaq-biotechnology-finally-breaks-out","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/04\/07\/ishares-nasdaq-biotechnology-finally-breaks-out\/","title":{"rendered":"Buy With Confidence: the iShares Nasdaq Biotechnology ETF Finally Breaks Out"},"content":{"rendered":"

In January of this year<\/a>, I finally gave up on the near-term prospects of the iShares Nasdaq Biotechnology ETF (IBB) reversing what I called “The Clinton Bash<\/a>.” After a rapid cascade downward from The Clinton Bash, IBB made three attempts from November to December, 2015 to reverse those losses. Those attempts came to a crashing end when IBB broke down below its 50-day moving average (DMA) as the rest of the stock market sold off to begin 2016.<\/p>\n

Three months later, IBB looks like it has FINALLY formed a sustainable base that has in turn generated a breakout. Perhaps the fourth attempt to reverse The Clinton Bash is underway.<\/p>\n


\n
\"The<\/a>
The iShares Nasdaq Biotechnology ETF (IBB) is breaking out from a 2-month long base.<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

This is a very bullish breakout that should be bought with confidence (preferably on the next limited pullback). The solid case for this trade is supported by two clear stop-loss points: 1) a close below Wednesday’s low which would mark the potential end of the breakout, or 2) a close below the 50-day moving average (DMA) which could begin a fresh sell-off.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: no positions (yet!)<\/p>\n","protected":false},"excerpt":{"rendered":"

In January of this year, I finally gave up on the near-term prospects of the iShares Nasdaq Biotechnology ETF (IBB) reversing what I called “The Clinton Bash.” After a rapid cascade downward from The Clinton Bash, IBB made three attempts from November to December, 2015 to reverse those losses. Those attempts came to a crashing … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1303,482,300,62],"tags":[1522,1523,1597],"class_list":["post-33890","post","type-post","status-publish","format-standard","hentry","category-bottom","category-breakout","category-health-care","category-technical-analysis","tag-ibb","tag-ishares-nasdaq-biotechnology","tag-technical-analysis"],"yoast_head":"\nBuy With Confidence: the iShares Nasdaq Biotechnology ETF Finally Breaks Out - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/04\/07\/ishares-nasdaq-biotechnology-finally-breaks-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buy With Confidence: the iShares Nasdaq Biotechnology ETF Finally Breaks Out - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"In January of this year, I finally gave up on the near-term prospects of the iShares Nasdaq Biotechnology ETF (IBB) reversing what I called “The Clinton Bash.” After a rapid cascade downward from The Clinton Bash, IBB made three attempts from November to December, 2015 to reverse those losses. 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