Biotechnology has been one of the stronger sectors this year. It’s benefited from the combination of Covid treatment hopes (vaccines + therapeutics), and the macro backdrop (low rates/negative GDP). As we highlighted earlier in the month, the iShares Nasdaq Biotechnology Index ETF broke out to new highs in late June and has been holding its ground above those...
The IBB is retesting a previous long term breakout level! What happens here is very important. If it holds, then that's bullish. If it breaks back below, then that would be a bearish development.
Everyone’s attention is focused on today’s strong jobs report, but an under-the-radar sector is breaking out: biotechnology. The iShares Nasdaq Biotechnology Index ETF hit new 52-week highs before the rest of the Nasdaq. And it wasn’t just any old breakout. It was the first move above $130 since mid-2015: a historic push to important long-term levels. IBB did...
IBB looks to have a just broken out of a 5 year basing pattern. The longer the base, the higher in space. I'm going long 3-5 year hold with sell target of >$400.
Look for further weakness and pullback following rejection at the channel with negative RSI divergence
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$IBB Looking Near Term Over-extended Long term rising wedge has formed. If broken, we could see $124.00 in medium term. Note: Not investment advice.