Technical Analysis: The Biotech HOLDRs ETF (NYSE:BBH) Print E-mail
By Glenn Pierce   
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.

As you can see from the chart below it pulled back to 61.8% fibonacci retracement.

The relative strength index(RSI) is crossing back above 30 after dipping to the 25 level.

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.

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