Biotech Breakdown: Up Is The Word, With Caution (11/28/14)

Market Analysis

  • S&P testing channel resistance for the 5th straight day, obviously this line is important
  • Nasdaq broke trendline resistance, should be moving higher overall
  • Russell still lags overall market, daily momentum divergence has developed
  • NYSE Composite has yet to hit a new high

Biotech

  • IBB still moving higher
  • Closed trades on ARIA, FOLD, EXAS for gains this week
  • Currently up in all 3 trades (ICPT, JAZZ, SGMO)
  • Other stocks discussed: GILD, KITE, XOMA
Posted to The Biotech Trader on Nov 28, 2014 — 10:11 AM
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