Jul. 15 at 2:16 AM
$BCRX - Some here have mentioned the etf XBI, which holds BCRX shares and which had a green day on Tues after 2 sharp selloff days , and a few folks wondered about the disconnect in share-prices. But look at ETF charts for IBB, PBE (over 3% of which is BCRX shares) and the index
$NBI and you'll see chart-action more closely matching the steep sell-off we've seen the past four days for BCRX. In these three latter cases (IBB, PBE, and the
$NBI) a sharp sell-off has occurred after reaching an all-time high four trading days ago. They are all testing support at their 20dma after the big run-up.
So some people are fuming about the co., the management, etc., but it seems BCRX's recent plunge has more to do with this sudden sharp consolidation pull-back by the biotech segment itself after such a bullish run to new all-time highs. Will the bullish trend continue? I don't have any major reason to doubt it.
