02/27 – 03/03 Biotechnology

ibb    ibbd1

labu-wk     labu-d1

As you can see, on the IBB weekly and daily charts we have a very large range from 2016 between $300 and $240 levels ( $55 and $23 for LABU ) . Because there are many companies whose market price are lower than their value like ARIA or CLCD, these companies are bought by others along the way, this can cause an upside move in the future above $300 level where new buyers may occur, but until then, there is not much to do until bears or bulls will broke one of this key levels. However we have some strong stocks in this sector like AMGN or AKAO.

The prior pivots for trading this week is 297 and 285 on IBB (50, 42.50  for LABU ) which are also the highs and lows on weekly chart of the last week. If bulls build up power and broke 297,  see if they hold and watch for follow through to 300 level trading strong stocks. If bears go through 285 level trade weak stocks for follow through to 278 and after to 268 level.

Strong stocks :

BIVV, ACAD, ACOR, AKAO, AMGN, JAZZ, BLUE, CARA, CELG, PGNX, CLVS, EDIT, ESPR, GRFS, PTLA, EXEL, GBT, INCY, SAGE, TSRO.

Weak stocks : 

BMRN, GILD, RDUS, REGN, XON.

 

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