Biotech HOLDRs

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This exchange-traded fund consists of 18 biotech companies and is used by many traders to predict the overall direction of this particular sector. As you can see from the chart below, BBH has been trading within a descending channel since November and has recently bounced off the support of the 200 DMA to close near the resistance of the upper trendline ($195). It will be interesting to see if the bulls can push the price above the descending trendline or if BBH will remain range-bound and continue to drift lower.



BBH_022206.jpg

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