Start a 14-day no obligation free trial to our premium research platform to see more of our market analysis. 

The Biotech group managed to rally 18% off its February lows, but it’s worth pointing out that over the last couple of weeks, it has begun to roll over again.  Below is a chart of the iShares Nasdaq Biotech ETF (IBB) over the last five years.  After surging for multiple years from late 2011 through mid-2015, the group has been a serial underperformer and is down 33% since peaking last July.

Unlike the Energy sector, which has managed to break above the top of its downtrend channel, Biotech remains stuck in a nasty downtrend.

ibb

Print Friendly, PDF & Email