Here are some of the recent references I have made about Biotechnology Sector (IBB) and the potential for a rally.
- ABBV AbbVie as a top pick for 2025
- Novo Nordisk another top pick and subject of 2 recent Daily articles
- On Schwab Network Tuesday, Nicole and I discussed how this sector looked like it could perk up
- With Geoff Bysshe on Monday, we did a podcast featuring the Healthcare ETF (XLV) and the Biotechnology ETF (IBB) and part of the Economic Modern Family.
Incidentally, Moderna (MRNA) is so oversold on a monthly timeframe, it should be on your radar.
How well is technical analysis (price) working right now?
Looking right first, the chart of XLV shows the breakout over the 50-day moving average back in early January.
If you are still not convinced our calendar ranges are amazing, look how that phase change perfectly corresponds with a breakout over the January 6-month calendar range!
Plus, another one of our incredible indicators, Real Motion showed a bullish divergence.
The chart on the left is the Biotechnology Sector (IBB) as we all look to pharma to help and protect us.
Like XLV, IBB’s Real Motion indicated a bullish divergence in momentum.
Exactly like XLV, IBB’s phase change over the 50-day moving average corresponded with the January calendar range high.
Now both are trading above their 200-day moving averages.
Plus, both are outperforming the benchmark.
I will say it again, technicals rule and fundamentals drool.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
