Monday, May 23, 2016

This Sector May Have Massive Upside: Profit From It Now

Biotech Breakout Alert: $IBB Approaches Key Level

Biotechnology has quiet possibly been the weakest sector over the last six months, underperforming almost everything else by a ton. However, there may be light at the end of the tunnel.

The $IBB (biotech ETF) is nearing a key breakout above the daily 50MA on the daily chart. Should it close above today, a short squeeze could begin in the coming days. Upside max target would be $300.00. Please note the chart below and remember, it MUST close above the 50 day moving average.

Gareth Soloway
Chief Market Strategist

Here Is A Bearish Stock Chart Pattern That You Want To Know