Biotechs May Have Broken Their DowntrendBiotechnology stocks have struggled this year along with the broader health-care sector, but some traders may think a bullish turn has begun.
The first pattern on today’s chart of the Nasdaq Biotechnology Index is the series of lower highs since early April. NBI closed above that falling trendline
Nasdaq Biotech Index $NBI in bad positionThe NASDAQ Biotech Index ($ 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. T
Nasdaq Biotech: NBI A good low risk buy point coming up tomorrowNASDAQ 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 he
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Displays a symbol's price movements over previous years to identify recurring trends.