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