Biotech Values

[wallstarb]

$6 initial weak support - look at how SPPI traded - I expect INCY to trade in a similar fashion. SPPI broke under its solid support @ 6.80 - showing there's no real buyers.

I expect these both and ALTH to trade the same way big drops with small short cover pops UNLESS there's major news. Next 6 weeks we could see 40 - 60% of the gains from march digested in many biotechs.

If I were goign to initiate a LONG in INCY wait until it fills the gap $4.40 +/- area - then it will have some decent supoport on an uptrending 200 dma (currently 3.70 but by the time its tested it could be low 4's)