Please try another search
The Biotech ETF (NYSE:XBI) is testing a major support zone as the week comes to an end. This key area includes the initial all-time high set back in 2018 and the 2019 peak. Also beefing up the lower band is an upward sloping 200-day moving average. Just above the 200D is the 1/3 retracement level of the rally off the March lows. At midday the XBI is rebounding indicating there is buying interest near $101.00.
This major support zone runs from $101.50 down to $98.00.
The top XBI holdings:
| Novavax (NASDAQ:NVAX) Inc |
| InVitae Corp (NYSE:NVTA) |
| Aimmune Therapeutics Inc (NASDAQ:AIMT) |
| Momenta Pharmaceuticals Inc (NASDAQ:MNTA) |
| Natera Inc (NASDAQ:NTRA) |
| Emergent Biosolutions Inc (NYSE:EBS) |
| TG Therapeutics Inc (NASDAQ:TGTX) |
| Sage Therapeutic (NASDAQ:SAGE) |
| Mirati Ther (NASDAQ:MRTX) |
| Immunomedics Inc (NASDAQ:IMMU) |
Note: We are long the XBI in some managed accounts. We are looking to add to positions.
Gary S. Morrow's original post can been read here.
Former market darling Palantir has fallen out of favor with investors PLTR is down 54.1% year-to-date and 81.4% below its all-time high Long-term investors should consider...
High inflation has captured the headlines as of late, particularly as CPI recently hit the highest levels since 1981. Some are even suggesting we will face hyperinflation. However,...
Ever since last week, the market has been slicing the heads off bears left and right, with the Dow up thousandsof points and the S&P 500 Futures up about 300. It’s been...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other 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, don’t trash it.
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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.