Investors who are closely watching the presidential race will want to keep an eye on Clinton in the coming months. If Clinton makes her way to the Oval Office and implements more regulation on pharmaceutical drug pricing, biotech companies may underperform the broader market.

IBB and rivals such as the SPDR S&P Biotech ETF (NYSEArca: XBI) and the First Trust NYSE Arca Biotechnology Index Fund (NYSEArca: FBT) are among the previously high-flying biotech ETFs that have been sapped by politicians, looking to earn voters favor in an election year, attacking high drug prices.

Related: Hit The Lab With These 17 Biotech ETFs

“From a technical viewpoint, IBB bounced off the $240 support level, or the February low, and broke back into the symmetrical triangle chart pattern. There are three major resistances at $280, $285 and $290, respectively, as the IBB continues to move higher. Closing and staying above the 200-day moving average will trigger a short squeeze,” adds Seeking Alpha.

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iShares Nasdaq Biotechnology ETF