Tuesday, 03 November 2009 22:07
The Biotech HOLDRs ETF (NYSE:BBH), recently has had a significant pullback. It appears it may be finding support at this level.
The relative strength index(RSI) is crossing back above 30 after dipping to the 25 level.
As you can see from the chart below it pulled back to 61.8% fibonacci retracement.
The MACD is at very compressed levels.
Typically a stock or etf will find higher prices from here.
Keep in mind this is a higher beta type ETF.
CLICK TO OPEN IMAGE
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