Busted Biotech Stocks: What’s the Next Trade?
Rayno Life Science Portfolio Update: Needs Re-Balancing
Rayno Life Science Stocks had a good run until early March 2018 when most life science stocks were hit hard. With all the bad news from recent clinical data ABBV, ALKS and uncertainties from macro and policy issues (tariffs+ rising rates), the market does not care about Company fundamentals. Follow the technicals until we get an update from Q1 earnings. Our favorite ETF the NYSE Area Biotechnology Index (XBI) hovered just above support of $83 although it is still up 23.48% over 12 months. One of our top speculative picks bluebird bio (BLUE) hit a new high of before dropping 73 points to the $160 level!
Here are some trades to consider assuming technicals hold at the current levels:
Rayno Life Science Picks- Data from 4/3/18