BIB Stock Tickeron detected bearish ETF Pattern: Cup-and-Handle Inverse BIB on November 13, 2024, netting in a 4.72% gain over 1 week

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BIB - ProShares Ultra Nasdaq Biotechnology

Ticker: BIB

Company: ProShares Ultra Nasdaq Biotechnology

Gain from shortening: +4.72%

Confirmed: 11/13/24

Succeeded: 11/14/24

Total length: 10 days

BIB in downward trend: price dove below 50-day moving average on November 12, 2024

BIB moved below its 50-day moving average on November 12, 2024 date and that indicates a change from an upward trend to a downward trend. In of 39 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on November 13, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BIB as a result. In of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BIB turned negative on November 14, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BIB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator entered the oversold zone -- be on the watch for BIB's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BIB advanced for three days, in of 329 cases, the price rose further within the following month. The odds of a continued upward trend are .

BIB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.