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The NASDAQ Biotech Index ($ NBI) is currently evolving in a well-marked down channel formed by DR1 and suppoty DS1 resistance. In a few days, sellers should test the very strong resistance of $ 3200. This resistance was broken sharply during the fall of the end of 2018, which made it very fragile. The most likely scenario (72%) would be that the resistance of $...
NASDAQ BIOTECHNOLOGY INDEX: NBI A good low risk Buy Point Coming Up
Range trading between the parallels continues as it has done since last year's election low.
It' looks like it should fall back to 3267 where it becomes a buy again with stops just under 3250.
It should make a strong rally from here back up to 3575 for about 300 points gain, with
the first...
Textbook breakout and retest, this can be a multimonth opportunity.
In the coming days i will analyse some biotech stocks, where i am seeing good potential for a trade.
Been waiting for weeks, or at least a quarter for the Pharmaceutical stocks to turn bullish.
And with the Nasdaq Biotechnology Index breaking out of the consolidation phase at 3158, and Donald Trump finally making good his healthcare reforms, the suppressed undervalued pharmaceutical stocks should start to shine moving forward.
As such Household pharmaceutical...
NBI: Nasdaq Biotech Index: In the doldrums for 2 years now the NBI is showing signs of life again. Too early yet, but once 3172 is broken decisively by more than 5 points this index should surge to 3575. Worth setting up an alert for this one.
after more the 6 monthes consolidating in a channel price broke to the upside
new high signling downtrend is over and looking bullish
targets resistence and support on chart
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....
