Biotech ETF Powering Higher | Investing.com

Biotech ETF Powering Higher | Investing.com


IBB Daily Chart.

The biotech sector is on fire as the new week begins. The iShares Nasdaq Biotechnology ETF (NASDAQ:) is posting its best gain of 2021 on extremely heavy volume. This powerful move is driving the ETF past the March/April highs on what is already heaviest upside trade since Nov. 4, 2020.

Details: Despite trading at new three-month highs the IBB is far from overbought (daily MACD=neutral). There is plenty of room to run.

The IBB has been trading inside a five-day range (March 1-5). This narrow sideways action is giving way with an upside breakout.

The Top 5 XBI holdings: Amgen (NASDAQ:), Gilead Sciences (NASDAQ:), Moderna (NASDAQ:), Illumina (NASDAQ:) and Vertex Pharmaceuticals (NASDAQ:).

Related news: Biogen (NASDAQ:) Drug Gets FDA Approval for Alzheimer’s Treatment By Investing.com

Investment Objective: The iShares Nasdaq Biotechnology ETF seeks to track the investment results of an index composed of biotechnology and pharmaceutical equities listed on the NASDAQ.

Note: We are long GILD and ILMN in some managed accounts.

You can read Gary S. Morrow’s original post here.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published. Required fields are marked *