Biotech ETF Could Run to $100

By Sam Collins,

Shutterstock photo


iShares Nasdaq Biotechnology Index Fund ( IBB ) -- The goal of this exchange-traded fund ( ETF ) is to provide investment results that correspond generally to the price-and-yield performance of the Nasdaq Biotechnology Index ( NBI ).   

IBB Chart  

Chart Legend  

In short, biotech stocks have broken out from a type of triple-top on a broad accumulation. 

This breakout represents a 17-month high with an eventual target of $95 to $100. 

The stochastic and other internal indicators are overbought, and investors may want to wait to buy IBB on a pullback to $85, but the course is clear, and that is definitely up.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Investing Ideas
Referenced Stocks: ETF , IBB

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