Biotech Values

[biocqr]

IBB > If the 274 horizontal support line doesn't hold... the case could be made for a final low @ 242 which is a long term trendline and 50% retracement from the 2011 lows.

I don't see that happening unless congress and the next pres (Hillary?? Bernie??..yikes!) introduce legislation for drug price controls or some other unforeseen calamity emerges.

We need to close above the upper trendline in the 320 area to resume the uptrend. 341 is key resistance.