XBI Coils in TTM Squeeze at $123.46, Breakout Imminent
NeutralXBI (XBI) closed down 1.20% at $123.46 on December 29.
Technical indicators paint a bearish picture:
Moving Averages
Mixed signals with price near the 9-day EMA ($123.89). The 21-day EMA sits at $121.96.
Momentum
RSI at 58.6 is in neutral territory but trending lower. MACD is bearish (2.27 vs signal 2.49).
Volatility
Stock has been in a TTM Squeeze for 6 days, indicating compressed volatility and potential for a significant move.
Key levels to watch: Support at $118.80, Resistance at $126.62.