Biotech ETF Update

www.investing.com/analysis/biotech-etf-update-200536457

Biotech ETF Update

By Gary S. Morrow | Sep 04, 2020 02:35PM ET

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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.

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Comments (1)

Vishal Arya Sep 05, 2020 9:54AM ET

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Seasonally Sep and October Mo the are weaker for biotech. How much upside do you think for XBI or biotech dextrose near term?

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Central Banks

Interest Rates

Next Meeting

FED

0.00%-0.25%

Jun 16, 2021

ECB

0.00%

Jun 10, 2021

BOE

0.10%

May 06, 2021

SNB

-0.75%

Jun 17, 2021

RBA

0.10%

May 04, 2021

BOC

0.25%

Jun 09, 2021

RBNZ

0.25%

May 26, 2021

BOJ

-0.10%

Jun 18, 2021

CBR

5.00%

Jun 11, 2021

RBI

4.00%

Jun 04, 2021

PBOC

3.85%

BCB

3.50%

May 05, 2021

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Biotech ETF Update

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