-2 C
New York
Monday, March 8, 2021

Biotech ETF Update

Must read

Oil, travel stocks boost European shares

Stock Markets13 minutes ago (Mar 08, 2021 03:30AM ET) ...

Two protesters killed in Myanmar, shops and factories closed

World20 minutes ago (Mar 08, 2021 03:23AM ET) ...

Pope Francis ends epic Iraq tour where he preached peace

World25 minutes ago (Mar 08, 2021 03:18AM ET) ...

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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

Oil, travel stocks boost European shares

Stock Markets13 minutes ago (Mar 08, 2021 03:30AM ET) ...

Two protesters killed in Myanmar, shops and factories closed

World20 minutes ago (Mar 08, 2021 03:23AM ET) ...

Pope Francis ends epic Iraq tour where he preached peace

World25 minutes ago (Mar 08, 2021 03:18AM ET) ...

Over 60% Indian consumers ‘newly constrained’; report decline in household incomes: Nielsen

Over 60% consumers in urban India are “newly constrained”, and have experienced a decline in household income or their financial situation has worsened, leading...