03/20 – 03/24 Biotechnology

IBBD1      ibbw

As you see on the weekly and daily chart of IBB, we finaly come out of this large range and close above 300.In long term perspective we may see a move to 341.

But in spite of this, last friday we broke the short term trend line . Anyway, as long as we hold above 294 stay bullish and watch for follow through to clear 303.74 level trading strong stocks. If bears go through 294 we may se a move to 286.50 and after to 278.50 going back into the range.

Strong stocks: 

ALNY, BLUE, CELG, CLVS, GBT, INCY, KITE, LJPC, PTLA, VRTX.

Weak stocks:

GILD, TSRO.

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