Using the daily charts, Chris Vermeulen of The Technical Traders talks about XBI, the S&P 500 Biotech Sector. Looking at the recent price actions from the 2021 highs, XBI is down roughly about 50%. From a longer standpoint, you can see the Biotech Sector ETF had a very nice rally, a bull flag, and ended up having the second half of the move to the upside.
Overall, Biotech is setting up daily and 30-minute chart patterns that point to pop and rally of 8 – 15% in the next 1-2 weeks.
EARN MORE ABOUT the Biotech Sector etf XBI– WATCH THE VIDEO
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.