iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) Trading Update
iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) : Positive Momentum Indicators point to a turn around in IBB
ISH NASDAQ BIOTC closed up 0.090 at 308.540. Volume was 18% below average (neutral) and Bollinger Bands were 101% wider than normal.
Open High Low Close Volume___
311.430 312.300 306.000 308.540 1,983,993
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 306.04 342.06 347.64
Volatility: 42 48 34
Volume: 4,406,681 2,987,254 2,017,151
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
ISH NASDAQ BIOTC is currently 11.2% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of IBB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on IBB.O and have had this outlook for the last 13 periods. ‘
Momentum Indicators Positive
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 56.8741. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 40.59. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 3. This is not a topping or bottoming area. The last signal was a buy 7 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.
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