$IBB

Biotech $IBB has rebounded from Friday’s dip, supporting continued near-term upside after the pullback and renewed buying interest.

Biotechs look positioned for upside next week while holding a rising 20-day moving average, unless the group breaks below its two recent lows.

Biotechs remain vulnerable after a month of lower highs and lower lows, with a break below 152 potentially opening a move toward 148.