“That’s why you don’t even need a bull market to make huge gains in biotech. In any given year, a few tiny biotech companies hit it big with new procedures or drugs. So if you’re hunting for giant winners that rise 300%… or even 600% in a year, you must keep an eye on this space,” Reports Tom Dyson.
The ETF had declined with the rest of the market earlier this year but, has since rebounded. This Biotech ETF (XBI) offers a wide range of biotechnology companies within S&P Biotechnology Select Industry index. I have included a list of the top 10 holdings in the ETF.
|TOP 10 HOLDINGS ( 46.50% OF TOTAL ASSETS)|
Full Story: HERE
We ran this BIOTECH ETF through the market club software and found the following results from their chart analysis program:
SPDR S&P BIOTECH ETF (PACF:XBI)
Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Uptrend with very tight stops.
Based on a pre-defined weighted trend formula for chart analysis, XBI scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
|-10||Last Hour Close Below 5 hour Moving Average|
|+15||New 3 Day High on Thursday|
|+20||Last Price Above 20 Day Moving Average|
|+25||New 3 Week High, Week Ending June 6th|
|-30||New 3 Month Low in March|