Biotechnology and Drug - Generic Sectors are showing quite the squeezing action for this week and lots of positive results are taking these sector stocks for a run. Spy holding over 203, shows it could still have more upside at least towards 205 core level and where it could start to face resistance, still bullish sentiment for the short term and showing now on these sectors specifically, big range and runs with huge volume. Phase 2-3 trials or hot news right now, any positive results on these sectors with those news are managing interesting parabolic runs. Markets opened gapping down and close solid Green for tomorrow. Watching $CPXX as Price action feels heavy and could make the drop tomorrow, took a small position for swing. Checking closely to the Shipping sector as it's spiking too, but no pattern whatsoever as only could find market sentiment to be catalyst and also good news or agreements for some.
I orginized the above table by volume, highest to lowest, all information from finviz.com. I filter and group catalysts as to share public information but no recomendation to buy or sell any of these stocks. Price action dictates and plan your trades accordingly, dont over trade nor use bigger positions if uncertain. Patience is key for entry and let winners run for as much as conviction allows you, taking partials along the way.
www.finviz.com - Free scanner
@slopezsu - tweeter
Safe trading!

Join now or log in to leave a comment