Biotechnology stocks had a huge move today. Breakout for IBB on the daily chart at $270. The breakout was on heavy volume. The candlestick today was a tall white shaven bottom and shaven head candlestick. Volume, OBB, RSI and MACD are confirming the move for this market-cap weighted ETF.
XBI is an equal weighted etf which had a similar move today.
“Technical Analysis is about probabilities.”
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