Jul. 2 at 8:13 PM
$XBI The technical breakout in XBI combined with Russell index reweighting creates a highly bullish setup for stocks like
$IBRX and
$IOVA and
$TGTX and
$CADL.....
Track the XBI Breakout and watch shares of these stock rise and just maybe one will have their own breakout since money is pouring in from other sectors like water.
1! XBI Breakout Watch:
Testing a major resistance level at
$160.07.PRICE Target:
$169.19 representing an immediate 6.6% upside.
Sector Tailwind:
No overhead resistance means XBI will pull top constituent stocks up with it.
2! Leverage the Reweighting ---> MechanicsPassive Buying:
The Russell reconstitution forces index funds to increase holdings.ETF Demand: Major funds like XBI and IBB have and must buy more IBRX to maintain proper weights.
Proven Momentum: IBRX , IOVA TGTX and Cadl already surged for weeks now, with ibrx for example going from
$7 to
$9.50 in a single week on this sector support.
