Biotech Breakdown: Markets Bounce, Biotech Stocks Pop (10/17/14)

Market Analysis

  • S&P bounced at the 10% correction mark. Short term move is up, overall move still appears to be down.
  • DOW tested channel support this week and held. 
  • The 200-day MA's are the first target resistance areas for both the S&P and DOW

Biotech

  • IBB bounced on trendline support and jumped big since. Still heading up.
  • Closed out gains on both ICPT and BIIB
  • INCY back above 50
  • CLDX breaks trendline resistance
  • Other biotechs discussed: AGIO, ALNY
Posted to The Biotech Trader on Oct 17, 2014 — 11:10 AM
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