Traders looking to be short IBB can wait for the ETF to fall to the $225 area as one technical analyst noted or wait for a rally to stall out in the $240 to $250 area as Wagner highlights. [Biotech ETF Honors Uptrend]

“If/when $IBB bounces off the lows, a three to four week bounce to the $240 – $250 area would be ideal, and where we would look for a low-risk short entry to emerge,” said Wagner.

iShares Nasdaq Biotechnology ETF

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.