Power Plays New Idea: XBI
+ Trim DASH
January 30, 2024

By Scott Redler

First, we'll trim 1/3 of DoorDash (DASH) for Power Plays, leaving us with 1/3 remaining. It's been a great performer since we added it at $170.75 on January 15, but might be getting overdone.

Now, onto our new idea:

Name: SPDR S&P Biotech ETF

Ticker: XBI

Price: $92.94

Needs to Hold: $86 to $90.80

Price Objective 1: N/A

Price Objective 2: N/A

Biotech has struggled to make meaningful gains for years, but I think that's about to turn around.

So I'm adding XBI to Power Plays here.

It's trending nicely above the 8/21 day, and looks ripe to rally in the weeks ahead, especially as traders look for growth outside the increasingly uncertain AI space.

-Scott

Scott Redler Positions Disclosure as of 2025-01-30 at 10.24.09 AM