The NASDAQ Biotech has just broken the monthly support line with bearish divergence. Bear marketing coming soon?
ProShares UltraShort Nasdaq Biotechnology ETF BIS has already build up its base line or support you can say. It is the only stock (ZBIO, LABD) where the price line has clearly shows the support over the last one year period of time from July 2015 till Aug 2016. Slowly but gradually it's going NORTH. Time to buy for long time holders. www.zacks.com
Biotech stocks had tremendous runs over the last few years. Many advancing several hundred percent. But all good things in the stock market come to end, and the biotech group is no exception. The advance over the last four to five years clearly reflected the improved growth rates that we saw biotech companies deliver over those years, and current fundamentals...
about to break much higher 30m:
Biotech bubble has burst. Every rallies are to be sold, and despite the euphoria/new highs in S&P and Nasdaq have barely registered a decent retracement in the biotech sector.. Here's a larger picture of how far biotechs have went since 2008: The uptrend in S&P is limited, and it will only be a matter of time before it collapses off this rising wedge....