I am keeping an eye on the Biotech sector as IBB starts to make a move. I’m not watching it to buy it but rather, because I’ve already bought it via GILD & REGN.
Here is nominal IBB.
And here it is in relation to broad Healthcare. Trends are down to be sure, but it’s worth keeping an eye on.
My interest is actually in the two stocks I hold, beginning with GILD which, if it can hold this breakout above the SMA 200 would target around 73. A failure of the breakout and… not so much.
REGN is another former darling that’s been shunned by Wall St. I didn’t buy it for technicals but as with GILD, because I felt it had been beaten down enough after shaking out the legions of momentum players and (former) trend followers that were in these stocks. REGN is in a potential bottom/bounce stance with no real target assigned at this point.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
