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Biotech / Medical : Biotech - Technical Analysis

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To: Jibacoa who wrote (539)	10/17/2006 2:03:24 AM
From: JMarcus	of 544

Bernard, how's the IBB looking to you? On the one hand, it looks like we have a series of higher lows (approximately 8/04, 4/05 and 7/06 per the 5-year chart on Yahoo) and higher highs (approximately 12/04, 9/06 and 3/06). On the other hand, the uptrend line started in 07/03 was recently broken (approximately 06/06). My gut tells me that the bullish indicators outweigh the bearish ones. I base that mostly on the quick rebound since the price fell below the uptrend line in June. Marc

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