“In the coming weeks, all of the top holdings of the IBB ETF are scheduled to report earnings, which is to say that for the near to intermediate term this could be a make-or-break period for this space in terms of price action,” according to InvestorPlace.
Related: Resisting Biotech ETFs
As MarketWatch points out, it is not just Clinton and Trump that are weighing on biotechnology and pharmaceuticals stocks. Several states have ballot measures to be voted on in November that seek to cap drug prices while some governors and attorneys general are pushing drug companies to explain big price increases.
“As we will see on the ensuing two charts, the IBB is holding on to crucial technical support by a thread and is just one stumble away from another meaningful leg lower,” adds InvestorPlace.
iShares Nasdaq Biotechnology ETF
