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

Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

You May Also Like