Monday, September 28, 2015

LEIBOVIT VOLUME REVERSAL TUTORIAL FOR IBB - SEPTEMBER 28, 2015



From the desk of Mark Leibovit.  

Many attribute the recent sell-off in Biotech to Hillary Clinton's comments late last week that she might consider some form of price controls on drug companies. In particular, Biotech has been under distribution for several months as seen in the charts herein presented. Biotech is way, way overvalued with most the companies have no earnings whatsoever. Leibovit Negative Volume Reversals confirmed by a declining 5/3/3 stochastic have been present since July. I've counted nine Leibovit Negative Volume Reversals since mid July on the Daily chart seen in the attached video. The weekly chart show equivalent distribution with potential down to the 200 week moving average now trading at 238. 

Post a Comment