Nasdaq Biotechnology Index Fund: Short Sell

By Stock MarketsMar 23, 2014 01:02AM (GMT-4:00)
www.investing.com/analysis/nasdaq-biotechnology-index-fund:-short-sell-206955
Nasdaq Biotechnology Index Fund: Short Sell
By   |  Mar 23, 2014 01:02AM (GMT-4:00)
 
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
Nasdaq Biotechnology Index Fund: Short Sell
 

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Nasdaq Biotechnology Index Fund: Short Sell

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