These Top Picks Are Powering a Breakout in the Biotech ETF

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These Top Picks Are Powering a Breakout in the Biotech ETF

Here are some of the recent references I have made about Biotechnology and the potential for a rally.

1. AbbVie (NYSE:) as a top pick for 2025
2. Novo Nordisk (NYSE:) another top pick and subject of 2 recent Daily articles
3. On Schwab Network Tuesday, Nicole and I discussed how this sector looked like it could perk up
4. With Geoff Bysshe on Monday, we did a podcast featuring the and , the Biotech ETF and part of the Economic Modern Family.

Incidentally, Moderna (NASDAQ:) is so oversold on a monthly timeframe, it should be on your radar.

How well is technical analysis (price) working right now?

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Looking right first, the chart of XLV shows the breakout over the 50-DMA back in early January.

If you are still not convinced our calendar ranges are amazing, look how that phase change perfectly corresponds with a breakout over the January 6-month calendar range!

Plus, another one of our incredible indicators, Real Motion showed a bullish divergence.

The chart on the left is IBB Biotechnology or what I call Big Brother of the Family as we all look to pharma to help and protect us.

Like XLV, Real Motion indicated a bullish divergence in momentum.

Exactly like XLV, that phase change over the 50-DMA corresponded with the January calendar range high.

Now both are trading above their 200-DMAs.

Plus, both are outperforming the benchmark.

I will say it again, technicals rule and fundamentals drool.

ETF Summary 

(Pivotal means short-term bullish above that level and bearish below) 

• S&P 500 (SPY) 600 support
• Russell 2000 (IWM) 227 now support and we watch again 230
• Dow (DIA) 439 support 452 now the resistance to clear
• Nasdaq (QQQ) 528 to clear
• Regional banks (KRE) 64 now the support to hold
• Semiconductors (SMH) Back over the 50-Week MA that now needs to hold
• Transportation (IYT) Its all about 68 support and getting back over 70
• Biotechnology (IBB) 140 now support to hold
• Retail (XRT) Needs to clear 81.
• iShares iBoxx Hi Yd Cor Bond ETF (HYG) Flashing risk on
  

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#Top #Picks #Powering #Breakout #Biotech #ETF

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