FYI: After a six-year rally of nearly 600%, the Biotech group finally broke down in 2015 when it peaked last July 20th. Currently, the group is down 29.3% from its all-time high, although at its lows in February it was down 38.8%. Biotech has made a series of higher lows (a positive formation) over the last 3.5 months, which is certainly a welcome sign. For the trend to really shift, however, Biotech needs to break out of the current downtrend channel that it’s stuck in.
Regards,
Ted
https://www.bespokepremium.com/big-tips/b-i-g-tips-biotech-bubble-trends/
