Wednesday, 6 April 2016

Biotech re bound, pick a leader to win

The Biotech sector (IBB) is looking like it wants to bounce, Wyckoff logic suggest pick a leader of the sector to enjoy the bounce.
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AMGN shows a nice re accumulation pattern. As a Wyckoff trader we want to investigate stocks that show the composite man is in harmony with the desired direction of this stock. RTT Steps (Wyckoff Indicator within readtheticker.com) gives a visual presentation of the harmony. Stock looks good! One to watch and profit.

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The relative strength review of AMGN vs IBB, AMGN vs SPY (via Quick Alpha pop out chart)

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Original Post: http://ift.tt/1MSSByb