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March 7, 2014
12:10 EDTIBBishares Nasdaq Biotechnology Index heading for support test
A level to watch next week is the 30-day moving average. This has been a proxy for a hand-drawn uptrend line that is less noisy and therefore more close-fitting than the 10-day. The 30-day was last at $255.69. The 30-day hasn't been broken on the downside, for very long anyway, within the prior year. How price behaves at this test is therefore more important given the number of times it has held or preceded a consolidation (sideways) phase that then leads to greater highs.
News For IBB From The Last 14 Days
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June 29, 2015
07:37 EDTIBBiShare Trust NASDAQ Biotech Index Fund volatility low as index near record high
iShare Trust NASDAQ Biotech Index Fund (IBB) July weekly call option implied volatility is at 24, July and August is at 23, November is a 25; compared to its 52-week range of 20 to 33, suggesting decreasing price movement.
June 19, 2015
14:11 EDTIBBOn The Fly: Weekly technical notes for Nasdaq Biotech ETF
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June 18, 2015
10:52 EDTIBBishares Nasdaq Biotechnology Index breaks out, levels to watch
A move higher or lower in trading range in sectors and groups was one of the keys for the broader indexes moving out of their doldrum state. Sectors have been trading range-bound, mirroring the inaction of the indexes. Today the Nasdaq Biotechnology Index is breaking out and the ETF along with it. At the current price of $376.95, there is no resistance overhead. A probe to the $380 area appears likely. Support is at the prior high at $374.97. For this breakout to remain valid, price needs to stay above that old high.

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