Today’s Chart of the Day was shared by Brian G (@alphacharts). It's a weekly bar chart of the Biotech ETF, $IBB, over the past three years. The largest components in this ETF include $GILD, $AMGN, $VRTX, $REGN, and $MRNA. Health Care has been the strongest sector over the past 6 months, and Biotech continues to be one of the more attractive industry groups within it. Brian points out that $IBB is in the process of breaking out of a 1-year base. As long as it's above $132, the path of least resistance looks higher.
Chart of the Day - Wednesday, December 14th, 2022
December 14, 2022
