See It: Biotech ETF Chart Predicted Trump Would Trash The Biotech/Pharma
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(Total Views: 664)
Posted On: 01/11/2017 4:27:41 PM
It is pretty crazy to think a stock chart can predict an event but the biotechnology ETF $IBB looks to have done just that. Yesterday, the ETF that tracks biotechnology and pharma stocks slammed into a trend line that is found by connecting the recent highs (see the chart below). Any technical trader will tell you that a sharp pull back should occur. Out walked Donald Trump today to give his press conference. One of the first things he did is trash biotech/pharma stocks over drug prices. The $IBB (biotech ETF) collapsed.
The stock chart here predicted the price action perfectly. However, most investors ignore the stock charts and trade off of CNBC and other media hype. Start watching the stock charts and become a better trader.
The stock chart here predicted the price action perfectly. However, most investors ignore the stock charts and trade off of CNBC and other media hype. Start watching the stock charts and become a better trader.
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