Biotech: Will It Continue To Move Higher?

Biotech Jumps

Biotech Shares are surging higher again, despite broader market weakness, although shares of the NASDAQ Biotechnology ETF (IBB) and SPDR Select Biotech ETF (XBI) have given back some of their earlier gains.
XBI Price Chart

XBI Price data by YCharts

Buying within the sector has been pretty broad with only 5 out of the top 25 stocks in the IBB and the XBI trading lower on the day.

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Biotech Breakout- Finally!

 

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The IBB is trading at its highest level since January of 2016.

Biotech Continues To Surge, IBB Chart

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Disclaimer:

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request the advisor will provide a list of all recommendation made during the past twelve months. Past performance is not indicative of future performance.