IBBQ Stock Tickeron detected bearish ETF Pattern: Triple Tops IBBQ on October 07, 2024, netting in a 5.31% gain over 2 months

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IBBQ - Invesco Nasdaq Biotechnology ETF

Ticker: IBBQ

Company: Invesco Nasdaq Biotechnology ETF

Gain from shortening: +5.31%

Confirmed: 10/07/24

Succeeded: 11/14/24

Total length: 79 days

Momentum Indicator for IBBQ turns negative, indicating new downward trend

IBBQ saw its Momentum Indicator move below the 0 level on November 13, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 59 similar instances where the indicator turned negative. In of the 59 cases, the stock moved further down in the following days. The odds of a decline are at .

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for IBBQ 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 32 similar instances when the indicator turned negative. In of the 32 cases the stock turned lower in the days that followed. This puts the odds of success at .

IBBQ 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.

The 10-day moving average for IBBQ crossed bearishly below the 50-day moving average on November 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where IBBQ 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 IBBQ'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 IBBQ advanced for three days, in of 211 cases, the price rose further within the following month. The odds of a continued upward trend are .

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

The Aroon Indicator entered an Uptrend today. In of 143 cases where IBBQ Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .