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Benzinga

Business

Mark Putrino

Why This Biotech ETF May Be About to Break Out

ETF IBB Nasdaq biotechnology

There’s a chance shares of the iShares Biotechnology ETF (NASDAQ:IBB) may be about to break out. They are testing a resistance level. If they can get above it, a new uptrend may form.

Resistance is a large group of investors looking to sell their shares at, or close to, the same price. As you can see on the following chart, for IBB there has been resistance around $119.

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