IBB – iShares NASDAQ Biotechnology Index Fund

This 6 month daily candlestick chart which shows the MACD Histogram with increasing selling momentum. It appears that the index (and therefore the stocks that comprise it) could see some additional short-term weakness. The index seems like it could push to the lower support area which currently resides right around a supporting trendline. If you haven’t already, this could be your opportunity to initiate a scale-in position into that biotech stock you’ve been watching.