Biotech Reaching Resistance

02/18/2010 9:30 am EST


Thomas Aspray

, Professional Trader & Analyst

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One of the strongest industry groups so far in 2010 has been the S&P 500 Biotechnology group as it is up.6.4%. The daily charts shows that there is first resistance just above the close at 1000 with more important resistance in the 1005-30 area. A close above the July 2009 highs at 1028 would be significant. There is first good support in the 950 area.

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