IBB, the ETF for biotechnology, day chart shows price is inside a very large Bullish Gartley PRZ (Potential Reversal Zone aka the zone for a harmonic pattern completion), however there is a do or die level for an opposing brown colored Alternate Bat at 240.03. The caveat is the larger Gartley has a calling to test 227.24 which would invalidate the emerging brown Alternate Bat.
The PRZ is colored green, so it's important where price can break and hold beyond it, a hold above it implies an attempt to go into retrace mode with ideal minimum target at 300.72 and ideal target at 400.79 with scaling points at the gray levels and emphasis at 357.37 for the brown Alternate Bat (providing price doesn't take out 240.03 first), this will help that Gartley retrace approximately 78.6% which is a symmetrical retracement.
It's best to be prepared for any situation when trading, so if price breaks down the PRZ, then there is an ideal extended target at 88.01, yeah that's a "yikes" and scaling points at 196.81 and 155.16 which is an emphasis support due to convergence.
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