Courtesy of Chris Kimble.
At one point in time, actually for years, Bio-Tech (IBB) was a market leader. From the 2009 lows to 2015, IBB out gained the S&P by more than 250%. Since the summer of 2015, Bio Tech has remained a leader, a “downside leader!” IBB has lagged the S&P by over 35% in the past 15-months.
Is the downside leadership over for IBB? Below updates the pattern on IBB
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Joe Friday Just The Facts; If IBB is to end its “downside leadership” role, support needs to hold at (1). If triple support fails to hold, it would usher in more selling, which the broad market/risk on trade, would most likely be concerned about!
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