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Nasdaq iShares Biotechnology ETF – IBB Elliott Wave technical analysis [Video]
By: bitcoin ethereum news|2025/05/08 23:45:02
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Nasdaq iShares Biotechnology ETF – IBB (one-day) Elliott Wave technical analysis Daily chart Function: Major Trend. Mode: Motive. Structure: Triangle. Position: Wave 1 of [5]. Direction: Uptrend. Details: The wave [4] triangle in IBB is complete, signaling a major buying opportunity. The following move is an impulsive post-triangle thrust, often very strong. Currently, wave 1 of [5] is underway, expected to complete near the $150 level before wave 2 begins. The clearest confirmation will occur at $142.80. Invalidation level: $107.43. Nasdaq iShares Biotechnology ETF – IBB (four-hour) Elliott Wave technical analysis Hourly chart Function: Major Trend. Mode: Motive. Structure: Impulse. Position: Wave [ii]. Direction: Minor Correction. Details: The current decline is only a brief pause within a major rally. Wave [ii] is retracing the leading diagonal wave [i] as an expanded flat structure. Afterward, the next move is expected to be an impulsive rally towards $142.80. The $125 level offers a favorable buying opportunity, with $107.43 as the stop-loss level. The $117 mark serves as key support. Invalidation level: $107.43. Conclusion The summary of the Elliott Wave analysis for IBB is: The rally is young and poised for a significant extension, representing a post-triangle thrust. Price action is expected to retrace the entire triangle formation and possibly move far beyond. $125 is considered an excellent buying area, with $107.43 as the risk management stop-loss. This setup provides a compelling buying opportunity, particularly for ETF investors. Traders must adhere to Elliott Wave rules and closely monitor invalidation levels to mitigate unnecessary losses. Nasdaq iShares Biotechnology ETF – IBB Elliott Wave technical analysis [Video] Source: https://www.fxstreet.com/news/nasdaq-ishares-biotechnology-etf-ibb-elliott-wave-technical-analysis-video-202505081216
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