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.
The sector has gapped above the range with merger Monday. Interestingly the last gap we saw in the XBI (JPM week) saw a gap and run instead of a test.
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.
An interesting start to large cap earnings. The sector was weak yesterday and this could be the long awaited pullback (or another head fake). Ideally, the pullback bottoms out in.
Another day and another lackluster pharma earnings. In some sense, it is good to see this have limited impact on the sector but on the other hand this is certainly.
A short note today as there is not much going on. We have earnings starting next week so the pace of news should pick up but at this point, I.
Real quick post on CELG. I sold my position for $86.28. I wanted to lock in profits and while there is still a nice gap between current price and deal.