Swing Trade Idea – (IBB) – September 25, 2020
Our bearish trade for Friday, September 25th is the Biotechnology ETF (IBB). IBB has experienced a 1.77% loss in the last month and its 1M trend turned bearish on September 23rd.
IBB’s price broke the $131 area of support yesterday with the next support area being $125. With a technical score of 7 (out of 10), IBB is a strong stock that will likely move lower.
As a stop loss, if IBB were to trade above $135.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $6.00.
