Over the past several trading days, we noticed that there is positive activity in the bio tech sector.
Amgen (AMGN), over the past four trading days has gone from $47 to $50, a gain of around 6%. The stock has broken out above the 200 day moving average too.
Celgene (CELG), over the past four days has gone from $64 to $69, a gain of around 8%. The stock has broken out above previous resistance levels and is solidly above both the 50 and 200 day moving average.
Genentech (DNA), had broken out, but a recent NY Times Article knocked down the stock today. However, on today's CNBC Mad Money Show, Jim Cramer pushes the Genentech stock and is bullish on bio tech at this part of the cycle.
Gilead (GILD) has shown some recent weakness, but the stock is still above the 200 day moving average and is within 9% of the 52 week high.