Weekly Charts with Rhum (XBB, IBIO, TWTR, AC)

Here’s another edition of our chart-based weekly with our FinTwit friend Rhum.

Every week he breaks down charts from some of the hottest tickers out there. These charts will show you some of the most hyped-up names of the week, and maybe even a few that might be good buying opportunities.

If you like the charts, don’t forget to support Rhum and his blog for his hard work and don’t hesitate to send in any chart requests either.

XBB – Bond Index Building Support

iShares Core Canadian Bond Universe Index is setting up nicely based on a building upward trend and a formation that may be signaling a potential breakout.

IBIO – Coronavirus Rumours Spread

Shares of iBioPharma Inc. jumped last week with a significant spike in volume. The recent downtrend has clearly been broken.

The breakout comes on the back of hopes for a China vaccine partnership amid coronavirus fears. With the market puking last week, they appear to be one of the few companies immune to the sell-off (for now).

TWTR – Meltdown Creates Opportunity?

After a strong start to 2020, Twitter gave back all of its gains in last week’s meltdown. However, by the end of the week, their chart was set up for a potentially bullish move according to recent trends.

AC – Airline Woes Continue

After challenges from the Boeing MAX 8 fiasco, airlines like Air Canada are now likely to see revenues take a hit amid coronavirus fears. Investors are at least anticipating as much, with a substantial selloff to start 2020.

With that said, the chart is indicating shares may be oversold, providing an interesting opportunity for traders.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Evan Veryard
Evan Veryard has a Bachelor's of Chemical Engineering from McGill University and a MaSc. of Chemical Engineering from RMC. He has over 6 years of research experience focusing on industrial materials. Address: 682 Indian Road, Toronto, Ontario, M6P 2C9. Phone: 416-721-8257.

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