Below is the iShares Biotechnology ETF (IBB) from 2002 to 2023 applying the Price Momentum Indicator.
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Category Archives: IBB
Nasdaq Biotechnology ETF
The iShares Nasdaq Biotechnology ETF (IBB) is trading in range that ultimately needs to be resolved. The outcome is either falling dramatically below $240 or striking the $343 level before doing a retest of the prior high around $400.
Already, IBB has managed to resist falling below the ascending $218.37 level. This is in defiance of our belief that a highly volatile sector and fund should retest the extreme downside target of $133.60. Those wanting to have exposure to the biotech sector but unwilling to take on the individual risk should consider the prospects of this ETF.
Posted in Edson Gould, IBB, speed resistance line, SRL
iShares Biotechnology Downside Targets
“…provided the secondary reaction can be assumed to have run its normal course, which should be somewhere between 33 per cent and 66 per cent of the total primary advance attained since the last preceding important secondary reaction.”
Rhea, Robert. The Dow Theory. Barron’s. 1932. page 58.
Posted in Edson Gould, IBB, SRL