Popular - Today: $BTK.png

$BTK.png

I may have naively said that biotech was a "long/buy" and the ascending wedge invalidated, but rather the bearish ascending wedge is just getting larger and I now have to issue a strong sell/short signal on biotechnology. It may be a few a more sessions for the euphoria of the Allergen and Pfizer merger to wear off, but I've drawn the ascending bearish wedge or the bullish ascending channel to show where this index needs to go in order for the wedge to be invalidated. Follow $BTK for an indication of where biotech may go and it may be a few sessions before a direction is decided, but I am now betting on down (www.DanjaZown.com).

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