Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Biotechnology (IBB) Gets Silver Cross BUY Signal

by May 17, 2024
May 17, 2024
Biotechnology (IBB) Gets Silver Cross BUY Signal

Today the Biotechnology ETF (IBB) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. If we look “under the hood” we can see that participation continues to expand. The Silver Cross Index tells us how many stocks within this group have a 20-day EMA above the 50-day EMA or a Silver Cross. While it isn’t reading above our bullish 50% threshold, it is rising strongly above its signal line.

Primary indicators are also positive. The RSI is not yet overbought. The PMO is on a Crossover BUY Signal and is rising above the zero line. Stochastics have camped out above 80 signaling internal price strength. We should see this group continue to outperform the SPY.

The weekly chart shows a rising weekly PMO, but we do note that overhead resistance is nearing and it is strong. We could see price stumble at that level before a possible breakout.

Conclusion: Biotechs saw a Silver Cross. The participation indicators under the hood are seeing improvement and primary indicators are bullish enough to look for some upside follow through.

If you like this “under the hood” chart then you would love a subscription to DecisionPoint.com. You’ll get access to all of our “under the hood” charts that include all the major indexes, sectors and select industry groups! Use our coupon code: DPTRIAL2 and try us out for 2 weeks FREE!

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 at checkout!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

0
FacebookTwitterGoogle +Pinterest
previous post
GOP turns up heat on House Dems with high-pressure Israel vote Thursday
next post
Rules-Based Money Management – Part 5: Security Selection, Rules, and Guidelines

Related Posts

Week Ahead: Important For Nifty To Say Above...

September 3, 2023

Market Movers in Action: How to Identify High-Probability...

March 7, 2025

Missed the AI Frenzy? Try This Promising Opportunity

June 14, 2023

S&P 500 Above 5400: Economic Optimism or Irrational...

June 13, 2024

GNG TV: Stocks Take a Break for That...

August 10, 2023

29 MUST SEE Charts You Can Start Using...

October 28, 2023

Secure Your Retirement Happiness: Check Your 401(k) Now!

April 17, 2025

Follow the Smart Money; Technology and Homebuilder Stocks...

October 8, 2023

DP Trading Room: SPX Earnings Update

April 15, 2025

A Closer Look at Long Bonds and The...

October 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Three Charts to Watch for an “All Clear” Signal

    • Use This Multi-Timeframe MACD Signal for Precision Trades

    • The Unpredictable Stock Market: How to Make Sense of It

    • Crypto Market Recap: New Hampshire Launches First State Crypto Reserve, Trump Stirs Controversy

    • SAGA Metals Extends Claims at the Radar Ti-V-Fe Project –Securing the Entire Titanomagnetite-Bearing Intrusion

    Categories

    • Business (1,181)
    • Investing (2,402)
    • Politics (3,699)
    • Stocks (1,551)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved