Is Biotech Back In A Bull Market?
Justin Smyth | Aug 20, 2014 07:09AM ET
Healthcare has been one of the leaders of the bull market that was born in 2009. Biotech in particular has seen some huge gains in certain stocks. Earlier in the year iShares Nasdaq Biotech (NASDAQ:IBB) got hammered on massive volume. It looked like the biotech bull took damage that it couldn't recover from. But the bounce back from April has been pretty impressive and biotech might be getting ready to make new highs here. The SPDR - Health Care (ARCA:XLV) ETF already made a new high so IBB might be right behind.
Furthermore some of the leading stocks in the healthcare and biotech sectors are making new highs and taking volume, further increasing the odds that this sector is resuming its uptrend.
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