Biotech Bounce Suspect

By | March 27, 2015

The Biotech iShares (IBB) fund closed up nearly 2% on the day, but was down over 5% on the week. Today’s volume was 6% above the 50 day moving average of volume, nowhere near the down day volume levels seen earlier in the week. This two-day bounce off the 50 day moving average is, in my opinion, suspect.

3327.IBBchart

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