At the risk of selling false hope2 Dec 2022 18:37
I know many of you believe hemo’s future is entirely in hemo/class hands whereas I believe it’s about net flows in to biotech (as much as the science) . With that in mind I copied this from “the daily rip”
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There are three charts that the community has been talking about recently, so we want to highlight them below with some context.
The first is the market-cap weighted iShares Biotech ETF ($IBB).
Technical analysts have pointed to the base it formed throughout 2022, with prices staying below the 135-137 level. But as of this week, many suggest a breakout is ahead for the sector as prices test that resistance level once again.
So why does this matter?
Bulls say the Biotech sector is often a leading indicator for bull markets. The theory is this higher-beta area of the market shows investor risk appetite and willingness to bet on higher prices for the overall stock market. Bears question that theory and think this breakout attempt will fail like all the last as the overall market turns lower again.
Only time will tell who is right. But for now, Biotech remains on many community members’ radars. ??