Swing trading alert for a possible wash-out snap-back trade setup developing in XENETIC BIOSCIENCES INC (XBIO)
How to Trade XBIO Wash-out Snap-back trade set-up. $XBIO #swingtrading #tradealert
XBIO has been in a wash-out sell-off since its late June 2018 run up in to a 52 week high of 8.95.
XBIO premarket is trading 2.50 today after a 12.5% sell-off (continued) yesterday.
The 200 MA on the daily XBIO chart is at 2.33. Near term the 200 MA is the obvious support test.
The peak timing in the time-cycle on the daily chart is approximately on this Friday Sept 14, 2018.
The peak timing in the time-cycle on the daily chart is approximately on this Friday Sept 14, 2018. There is a high probability of a turn up on the other side of that time cycle if XBIO can hold the 200 MA support on the daily chart.
Click here for the XBIO stock financial page on Yahoo Finance.
October 5, 2018 is a near term time cycle peak that sees a potential 4.69 upside bullish price target and alternatively in a continued sell-off the most likely target on October 5 is 1.66 – but very unlikely considering the 200 MA and the time cycle completion this Friday.
I have provided two short term scenarios for trade between now and Friday and from there the two charting scenarios provided below offer the potential targets.
How to trade the move in XBIO after Sept 14?
For your trading plan simply select the chart that most resembles where trade is at Sept 14.
Then if trade is above the buy sell trigger (noted with white arrows) then this would be a long in to the trending price target on the chart.
The opposite is true if price is below the buy sell trigger. In a short scenario be very cautious of buy-side volume approaching on any given day as this is a common theme in trading wash-outs. The 200 MA support is likely to fail and then bulls could very well step in as stops are triggered and buy side momentum ensues, especially if short side panics.
XENETIC BIOSCIENCES INC Premarket near 200 MA support test after sel;-off, near time cycle peak Sept 14, possible turn $XBIO #swingtrade #tradealert
XENETIC BIOSCIENCES INC How to trade XBIO charting set-up number 1. $XBIO #swingtrading #tradealert
XENETIC BIOSCIENCES INC How to trade XBIO charting set-up scenario Number 2. $XBIO #swingtrading #tradealert
If you have any questions about the trade alert detailed in this article reach out! You can get me on email [email protected] or private message me on any of my social media accounts.
Trade safe and cut losers fast!
Curt
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Article Topics; trade, alerts, XBIO, snap-back trade, set-up, swing trading, trading plan, price targets, buy sell triggers.