We have updated our privacy policy and terms & conditions. Find out more here.

Nasdaq Biotechnology Index Fund: Short Sell

By  |  Stock Markets  |  Mar 23, 2014 05:02AM GMT  |   Add a Comment
Nasdaq Biotechnology Index Fund: Short Sell
By   |  Mar 23, 2014 05:02AM GMT
From a technical view, the iShares Nasdaq Biotech ETF (NASDAQ:IBB)has posted a reversal candlestick pattern on a weekly chart while biotechnology sector is in a parabolic rise. Regarding technical indicators, the weekly RSI has validated a bearish divergence in its overbought area. On a relative basis against the iShares Core S&P 500 ETF (ARCA:IVV), the iShares Nasdaq Biotechnology Index Fund is reversing down and looks set for a drop.
Trading strategy: Short Sell @ $253.25 - Stop loss @ $264 - Target @ $215.
Nasdaq Biotechnology Index
Nasdaq Biotechnology Index
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

iShares S&P 500
Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.