The sector has had a nice sharp pullback that has challenged sentiment a little. I was a little surprised about how quickly sentiment got negative yesterday as we have had.
This will certainly be a bad day for the large cap but I would not be surprised to see the XBI outperform if not eventually turn green as M&A fever.
A nice late day rally yesterday was a good sign. That was what I was waiting for after a morning of listless direction. It is looking more and more likely.
I am finally back and the sector appears to have pulled back a little. I do not see this a particularly bad pull back as it looks to have closed.
We still have not gapped and went, so I would think that possibility is lowering but I would not completely discount it. We have some positive news today in the.
Sarepta Therapeutics (SRPT) has a long history with several inflection points through the years. Moving upward from a penny stock back in the days they used to be called AVI.
Resistance is acting like resistance. It looked early that we might be peaking above it but clearly that is not the case. These sort of false breakouts (and breakdowns) are.
The sector might be peaking its head above the top end of the range. The ideal set up for breakout are moves above the range and then successfully testing the.
The sector continues to do well this week on not necessarily all positive news. My refrain will continue to be that we are range bound until proven otherwise and so.
We start off a little weak this morning, which is not completely unexpected given that we are at the top end of the recent range. Obviously it would be nice.
There might be reason for optimism in the sector. The XBI seems to be breaking above its recent range and the $80 level might have been support for this new.
Another day and another weak earning for biotech. This was fairly predictable and the real question is how far these earnings (and the upcoming slew of secondaries now that the.