Look for Shares of iShares Nasdaq Biotechnology Index to Potentially Rebound after Yesterday's 2.29% Sell Off
iShares Nasdaq Biotechnology Index (AMEX:IBB) traded in a range yesterday that spanned from a low of $249.94 to a high of $257.74. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $255.78 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend is monitoring the recent change of momentum in iShares Nasdaq Biotechnology Index. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares Nasdaq Biotechnology Index in search of a potential trend change.
In the past 52 weeks, shares of iShares Nasdaq Biotechnology Index have traded between a low of $240.03 and a high of $400.79 and are now at $250.37, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.9%.
Keywords: rebounders amex:ibb ishares nasdaq biotechnology index