XBI - SPDR S&P Biotech ETF
Context Technical Analysis
Since early April, XBI is moving in a strong bullish channel between its 10-day moving average and the upper Bollinger Band.
Price also moved above the yellow resistance line.
MACD is moving slowly up, just above its Signal Line.
The Relative Strength of XBI has been moving up and above its 20-day moving average since mid-March.
Higher Time Frame
From XBI 's weekly chart below, we can see:
· XBI is moving above its rising 10- 20- and 50-week moving average
· The MACD is rising and it’s above its signal line
· XBI’s Relative Strength is moving up and well above its 20-day moving average