Posted: March 8, 2017 at 6:40 am
Low carbohydrate diets should be considered for diabetes ... Science Daily Following a reduced carbohydrate diet can help to lower blood glucose levels, providing a safe and effective strategy for managing diabetes, new research ... |
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Low carbohydrate diets should be considered for diabetes ... - Science Daily
Posted: March 8, 2017 at 6:40 am
VALLEY COTTAGE, New York, March 8, 2017 /PRNewswire/ --
Growing number of diabetics in the US, Canada and European countries has been compelling hospitals to keep artificial pancreas systems in stock. Government-funded organisations in North America and Europe are collaborating with local as well as global medical device manufacturers to meet the rising demand for artificial pancreas systems. A latest report published by Future Market Insights reveals that the value of artificial pancreas systems market in North America and Europe reached US$ 86.5 Mn by the end of 2016. The report also predicts that people suffering from diabetes in these regions will keep opting for artificial pancreas systems in order to control their blood sugar levels externally.
(Logo: http://photos.prnewswire.com/prnh/20161020/430874LOGO )
Lifestyle of residents in Europe and North America is triggering the incidence of diabetes (type 1 as well as type 2) in these regions. Substantial rise in diabetic patients compels doctors, pathologists and endocrinologists to treat patients' malfunctioning pancreas superficially. The rate at which a physiological pancreas get replaced with a substitute (artificial pancreas system) will keep gaining momentum in this region. By the end of 2026, more than US$ 280 Mn worth of artificial pancreas systems will be sold in North America and Europe, registering a revenue growth at 12.6% CAGR.
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Almost every artificial pancreas system sold in these regions will treat patients suffering from type 1 diabetes. In US, the occurrence of diabetes mellitus type 1 is expected to surge beyond control. The US artificial pancreas systems market is presently valued at just over US$ 40 Mn, and will account for over two-third of North America's artificial pancreas system revenues through 2026. Canada's artificial pancreas system revenues, on the other hand, will surge rampantly at 13.8% CAGR.
Hospitals will remain the largest distribution channel for artificial pancreas systems across North America and Europe. Although, the report does highlight a noticeable presence of e-commerce websites in global distribution of medical devices as critical as artificial pancreas systems. Among these regions, North America will remain dominant over Europe's artificial pancreas system market. Likewise, the demand for artificial pancreas systems will be fairly high in Western Europe, compared to Eastern Europe. Germany, France, the UK and Poland are leading European countries that are more likely to showcase revenue growth at over 11.5% CAGR.
Preview Analysis on North America and Europe Artificial Pancreas Systems Market Segmentation By Distribution Channel - Hospitals and E-Commerce; By Disease Indication - Diabetes Type 1 and Diabetes Type 2: http://www.futuremarketinsights.com/reports/north-america-and-europe-artificial-pancreas-systems-market
One of the largest company in North America & Europe's artificial pancreas systems markethas been identified as Illinois-based medical device manufacturer - Medtronic plc. With it, the UK-based Cellnovo is also being recognised as a prominent manufacturer of artificial pancreas systems. Other key players in the artificial pancreas systems market across North America and Europe include, Johnson & Johnson Services, Inc., Dexcom Inc., Insulet Corporation, and Tandem Diabetes Care Inc.
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Rising Diabetes Incidence Rate in North America & Europe Driving Sales of Artificial Pancreas Systems - Yahoo Finance
Posted: March 8, 2017 at 6:40 am
Nearly half of all deaths from heart disease, stroke and diabetes in the United States are associated with diets that skimp on certain foods and nutrients, such as vegetables, and exceed optimal levels of others, like salt, a new study finds.
Using available studies and clinical trials, researchers identified 10 dietary factors with the strongest evidence of a protective or harmful association with death due to "cardiometabolic" disease.
"It wasn't just too much 'bad' in the American diet; it's also not enough 'good,'" said lead author Renata Micha.
"Americans are not eating enough fruits, vegetables, nuts/seeds, whole grains, vegetable oils or fish," she said.
Micha is an assistant research professor at the Tufts University School of Nutrition Science and Policy in Boston.
RELATED: Mediterranean Diet Plus Olive Oil a Boost to Heart Health?
The researchers used data from multiple national sources to examine deaths from cardiometabolic diseases -- heart disease, stroke and type 2 diabetes -- in 2012, and the role that diet may have played.
"In the U.S. in 2012, we observed about 700,000 deaths due to those diseases," Micha said. "Nearly half of these were associated with suboptimal intakes of the 10 dietary factors combined."
Too much salt in people's diets was the leading factor, accounting for nearly 10 percent of cardiometabolic deaths, according to the analysis.
The study identifies 2,000 milligrams a day, or less than 1 teaspoon of salt, as the optimal amount. While experts don't agree on how low to go, there is broad consensus that people consume too much salt, Micha noted.
Other key factors in cardiometabolic death included low intake of nuts and seeds, seafood omega-3 fats, vegetables, fruits and whole grains, and high intake of processed meats (such as cold cuts) and sugar-sweetened beverages.
Each of these factors accounted for between 6 percent and 9 percent of deaths from heart disease, stroke and diabetes.
"Optimal" intake of foods and nutrients was based on levels associated with lower disease risk in studies and clinical trials. Micha cautioned that these levels are not conclusive. Optimal intake "could be modestly lower or higher," she explained.
Low consumption of polyunsaturated fats (found in soybean, sunflower and corn oils) accounted for just over 2 percent of cardiometabolic deaths, according to the study. High consumption of unprocessed red meats (such as beef) was responsible for less than one half of 1 percent of these deaths, the analysis showed.
The take-home message: "Eat more of the good and less of the bad," Micha said.
Vegetable intake, for example, was considered optimal at four servings per day. That would be roughly equivalent to 2 cups of cooked or 4 cups of raw veggies, she said.
Fruit intake was deemed optimal at three daily servings: "For example, one apple, one orange and half of an average-size banana," she continued.
"And eat less salt, processed meats, and sugary-sweetened beverages," she said.
The study also found that poor diet was associated with a larger proportion of deaths at younger versus older ages, among people with lower versus higher levels of education, and among minorities versus whites.
Dr. Ashkan Afshin is acting assistant professor of global health at the University of Washington's Institute for Health Metrics and Evaluation.
"I commend the current study's authors for exploring sociodemographic factors, like ethnicity and education, and their role in the relationship of diet with cardiometabolic disease," said Afshin, who was not involved in the study.
"This is an area that deserves more attention so that we may fully understand the connection between diet and health," he said.
The study doesn't prove that improving your diet reduces risk of death from heart disease, stroke and diabetes, but suggests that dietary changes may have an impact.
"It is important to know which dietary habits affect health the most so that people can make healthy changes in how they eat and how they feed their families," Afshin said.
The study was published March 7 in theJournal of the American Medical Association.
In an accompanying journal editorial, researchers from Johns Hopkins University urged caution in interpreting the findings.
According to Noel Mueller and Dr. Lawrence Appel, the results may be biased by the number of dietary factors included, the interaction of dietary factors and the authors' "strong assumption" that evidence from observational studies implies a cause-and-effect relationship.
Still, the editorialists concluded that the likely benefits of an improved diet "are substantial and justify policies designed to improve diet quality."
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Poor Diet Tied to Half of US Deaths From Heart Disease, Diabetes - Everyday Health (blog)
Posted: March 8, 2017 at 6:40 am
Science Daily | Diabetes drug may be effective against deadly form of breast cancer, study suggests Science Daily The study, 'AKR1B1 promotes basal-like breast cancer progression by a positive feedback loop that activates the EMT program,' suggests that an inhibitor of this enzyme currently used to treat diabetes patients could be an effective therapy for this ... Diabetes drug may protect against deadly form of breast cancer ... Diabetes Drug Fights Form Of Aggressive Breast Cancer - SFGate |
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Diabetes drug may be effective against deadly form of breast cancer, study suggests - Science Daily
Posted: March 7, 2017 at 8:47 am
Advanced materials are revolutionizing our daily lives from clothing to clinics to cattle?
A nanomaterial-based bone regeneration technology developed at the University of Arkansas at Little Rock helped save a valuable animals life. In the future, this technology could help people suffering from a variety of severe injuries and ailments.
Alexandru Biris, director of the UA Little Rock Center for Integrative Nanotechnology Sciences, led the development of this technology, the NuCress scaffold, a temporary, implantable filler for missing bone that encourages healthy bone regeneration and is absorbed into the body.
In addition to its unique 3-D structure, the device can be loaded with beneficial drugs, such as antibiotics to fight infection or hormones and stem cells to encourage healing.
Biris began developing the device in 2005, initially intending it for regeneration of small sections of bone, such as in the human jaw. He believes the NuCress scaffold will, one day, be an invaluable tool for repairing the kind of irregular, complicated bone gaps often seen in victims of severe trauma from wartime violence, car crashes, and bone disease.
For now, the scaffold is making a name for itself in Americas heartland.
More than a decade ago, Biris started collaborating with David Anderson, a veterinarian, and the pair have been refining and developing the device ever since.
Anderson has conducted biomaterials and bone trauma research since 1991 through his work at Kansas State and Ohio State universities. Since 2012, he has been a professor and the head of Large Animal Clinical Sciences at the University of Tennessee College of Veterinary Medicine. Anderson is an internationally renowned expert in veterinary orthopedic surgery, having given keynote addresses in more than a dozen countries and published extensively on the subject.
Andersons position and reputation mean he is occasionally called on to take his skills from the classroom to the community.
Veterinary teaching hospitals exist for two main purposes. One is to educate vet students, and the other is to serve the community with advanced expertise in technologies, Anderson said. If the primary veterinarian is not able to fix the problem, they can send it to the tertiary care center at the veterinary teaching hospital, where the equipment and expertise is available to be able to deal with these types of complex problems.
This is exactly what happened in 2010, when he was contacted by a local veterinarian whose patient, a young bull in Kansas, had a serious leg injury likely caused by a misplaced step in a hole. While Anderson and his team were no strangers to complicated animal injuries, this case was unique.
It was an open fracture that was very badly contaminated with hair, dirt, manure, and debris. The bone was severely damaged, Anderson said.
Not only was the injury severe, but the stakes were high the animal was no ordinary bovine.
The bull was an Angus breeding bull selected to add genetic advancement for that herd. This was probably about a $20,000 bull. It would have been a total loss for the owner if the bull was put down.
Initially, Anderson and his team put in an external skeletal fixation system to stabilize the bone, hoping this would be sufficient to heal the bull.
The bull, however, was not responding. The complexity and contamination of the wound resulted in a bone break that simply wouldnt heal. Infection had set in, conventional methods had been exhausted, and the prize bull was running out of options.
We either had to do something dramatic or we would have to euthanize the animal, Anderson said.
Not ready to give up, Anderson turned to his research with Biris.
In previous studies, the pair had already shown that their scaffold was effective for delivery of antibiotics. Though this scaffold was smaller in size than what the bull would require, Anderson decided to take a chance.
I called Alex and I asked if he could make one for this bull to see if we could try to control the infection and stimulate the bone to heal more quickly, Anderson said.
Biris immediately went to work, scaling up the scaffold by almost six times the original prototypes size.
The scaffold was loaded with antibiotics and implanted by Andersons team inside the bulls fractured leg. Then they waited, keeping their expectations low.
When the infection has progressed to that extent, it is actually fairly uncommon to be able to reverse it, and most of these animals with such infections end up being euthanized because they are simply too big to survive with an amputated limb, Anderson explained.
But the bull and the scaffold defied expectations. Not only did the bone heal, but the infection was stopped in its tracks and completely reversed.
These results, Anderson asserts, were astounding.
The bull returned to full function in his herd in a relatively short amount of time at a fraction of the cost to the rancher that replacement would have involved.
While this experience was not the first evidence of the scaffolds usefulness, it reinforced its potential value.
There is no question that this is a product that has real merit, Anderson said. It can change the way we do therapy and can really improve outcomes for patients.
Today, UA Little Rock has patented the scaffold technology, and Biris and his team received almost $10 million from the U.S. Department of Defense to develop it further. The researchers hope to bring the NuCress scaffold to clinical trial in the next few years, but theyll always remember their first successful patient a prize bull from a ranch in the heartland.
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From Bovines to the Battlefield: New Bone Regeneration Technology Has Wide-ranging Benefits - Laboratory Equipment
Posted: March 7, 2017 at 8:47 am
Newswise LITTLE ROCK, Arkansas (March 6, 2017) Advanced materials are revolutionizing our daily lives from clothing to clinics to cattle?
A nanomaterial-based bone regeneration technology developed at the University of Arkansas at Little Rock helped save a valuable animals life. In the future, this technology could help people suffering from a variety of severe injuries and ailments.
Dr. Alexandru Biris, director of the UA Little Rock Center for Integrative Nanotechnology Sciences, led the development of this technology, the NuCress scaffold, a temporary, implantable filler for missing bone that encourages healthy bone regeneration and is absorbed into the body.
In addition to its unique 3-D structure, the device can be loaded with beneficial drugs, such as antibiotics to fight infection or hormones and stem cells to encourage healing.
Biris began developing the device in 2005, initially intending it for regeneration of small sections of bone, such as in the human jaw. He believes the NuCress scaffold will, one day, be an invaluable tool for repairing the kind of irregular, complicated bone gaps often seen in victims of severe trauma from wartime violence, car crashes, and bone disease.
For now, the scaffold is making a name for itself in Americas heartland.
More than a decade ago, Biris started collaborating with Dr. David Anderson, a veterinarian, and the pair have been refining and developing the device ever since.
Anderson has conducted biomaterials and bone trauma research since 1991 through his work at Kansas State and Ohio State universities. Since 2012, he has been a professor and the head of Large Animal Clinical Sciences at the University of Tennessee College of Veterinary Medicine. Anderson is an internationally renowned expert in veterinary orthopedic surgery, having given keynote addresses in more than a dozen countries and published extensively on the subject.
Andersons position and reputation mean he is occasionally called on to take his skills from the classroom to the community.
Veterinary teaching hospitals exist for two main purposes. One is to educate vet students, and the other is to serve the community with advanced expertise in technologies, Anderson said. If the primary veterinarian is not able to fix the problem, they can send it to the tertiary care center at the veterinary teaching hospital, where the equipment and expertise is available to be able to deal with these types of complex problems.
This is exactly what happened in 2010, when he was contacted by a local veterinarian whose patient, a young bull in Kansas, had a serious leg injury likely caused by a misplaced step in a hole. While Anderson and his team were no strangers to complicated animal injuries, this case was unique.
It was an open fracture that was very badly contaminated with hair, dirt, manure, and debris. The bone was severely damaged, Anderson said.
Not only was the injury severe, but the stakes were high the animal was no ordinary bovine.
The bull was an Angus breeding bull selected to add genetic advancement for that herd. This was probably about a $20,000 bull. It would have been a total loss for the owner if the bull was put down.
Initially, Anderson and his team put in an external skeletal fixation system to stabilize the bone, hoping this would be sufficient to heal the bull.
The bull, however, was not responding. The complexity and contamination of the wound resulted in a bone break that simply wouldnt heal. Infection had set in, conventional methods had been exhausted, and the prize bull was running out of options.
We either had to do something dramatic or we would have to euthanize the animal, Anderson said.
Not ready to give up, Anderson turned to his research with Biris.
In previous studies, the pair had already shown that their scaffold was effective for delivery of antibiotics. Though this scaffold was smaller in size than what the bull would require, Anderson decided to take a chance.
I called Alex and I asked if he could make one for this bull to see if we could try to control the infection and stimulate the bone to heal more quickly, Anderson said.
Biris immediately went to work, scaling up the scaffold by almost six times the original prototypes size.
The scaffold was loaded with antibiotics and implanted by Andersons team inside the bulls fractured leg. Then they waited, keeping their expectations low.
When the infection has progressed to that extent, it is actually fairly uncommon to be able to reverse it, and most of these animals with such infections end up being euthanized because they are simply too big to survive with an amputated limb, Anderson explained.
But the bull and the scaffold defied expectations. Not only did the bone heal, but the infection was stopped in its tracks and completely reversed.
These results, Anderson asserts, were astounding.
The bull returned to full function in his herd in a relatively short amount of time at a fraction of the cost to the rancher that replacement would have involved.
While this experience was not the first evidence of the scaffolds usefulness, it reinforced its potential value.
There is no question that this is a product that has real merit, Anderson said. It can change the way we do therapy and can really improve outcomes for patients.
Today, UA Little Rock has patented the scaffold technology, and Biris and his team received almost $10 million from the U.S. Department of Defense to develop it further. The researchers hope to bring the NuCress scaffold to clinical trial in the next few years, but theyll always remember their first successful patient a prize bull from a ranch in the heartland.
Here is the original post:
New bone regeneration technology has wide-ranging ... - Newswise - Newswise (press release)
Posted: March 7, 2017 at 8:46 am
Shares of Nektar Therapeutics (NASDAQ:NKTR) dropped -1.01% by the end of trading session at $14.64. For the current quarter, the 5 brokerage firms issuing adjusted earnings per share outlook have a consensus forecast of -$0.34/share, which would compare with -$0.14 in the year-ago quarter. The net percentage change is 27.97% over the last 12 months. The trading range in the same period had a highest hit of $19.98 while lowest level was $11.22. At the moment the price is 13.56% above its 50-day moving average and -1.11% below its 200-day moving average.
Nektar Therapeutics (NASDAQ:NKTR) on March 2, 2017 announced that its corporate presentation will be webcast at the upcoming Cowen and Company 37th Annual Health Care Conference on Tuesday, March 7, 2017 at 11:20 a.m. Eastern time. Nektar Therapeutics is a research-based development stage biopharmaceutical company whose mission is to discover and develop innovative medicines to address the unmet medical needs of patients. Our R&D pipeline of new investigational medicines includes treatments for cancer, auto-immune disease and chronic pain. We leverage Nektars proprietary and proven chemistry platform in the discovery and design of our new therapeutic candidates. Nektar is headquartered in San Francisco, California, with additional operations in Huntsville, Alabama and Hyderabad, India.
Biostage, Inc. (NASDAQ:BSTG) last exchanged hands at a price $0.39/share, registering a gain of 9.68%. Among 1 Wall Street analysts tracked by Thomson/First Call, the average PT for BSTG is $3 but some of them are predicting the price to move at the $3 level. If the most optimistic analysts are correct, the expected total return from the current price would be 669.23. The number of shares traded in most recent trading day was 3.06M shares which averages 987.24K shares a day. Its previous fifty two week high was $2.86 and moved down -75.47% over the same time frame, currently having a market cap around $13.09 million. Shares have risen -51.55% over the trailing six months. At the moment, the stock trades -43.63% below its 50-day moving average and -59.6% below its 200-day moving average.
Biostage, Inc. (NASDAQ:BSTG) ) on March 2, 2017 announced that it will report its financial results for the year ended December 31, 2016 in a press release that will be issued pre-market on Thursday, March 9, 2017. Biostage Management also announced that it will host a conference call with live audio webcast that same day at 9:00 a.m. ET to review its operational progress, expected near-term milestones and financial report. Biostage is a biotechnology company developing bioengineered organ implants based on the Companys new Cellframe technology which combines a proprietary biocompatible scaffold with a patients own stem cells to create Cellspan organ implants. Cellspan implants are being developed to treat life-threatening conditions of the esophagus, bronchus or trachea with the hope of dramatically improving the treatment paradigm for patients. Based on its preclinical data, Biostage has selected life-threatening conditions of the esophagus as the initial clinical application of its technology.
The rest is here:
Hot Biotech Stocks Recap: Nektar Therapeutics (NASDAQ:NKTR), Biostage, Inc. (NASDAQ:BSTG) - The Voice Registrar
Posted: March 7, 2017 at 8:46 am
SIOUX FALLS Sen. John Thune (RS.D.) has been named Legislator of the Year from the international Biotechnology Innovation Organizations Industrial & Environmental Health Section.
The award recognizes Senator Thunes support of the biotechnology industry and steadfast commitment to growing South Dakotas and the nations bio-based economy.
Thunes award was presented by Doug Berven, a member of BIOs governing board and vice president of corporate affairs at Sioux Falls-based POET, and Brent Erickson, executive vice president of BIOs Industrial & Environmental Section.
Sen. John Thune has been a strong and constant champion of policies that support industrial biotechnology companies in creating jobs, revitalizing manufacturing, improving U.S. energy security and building a bio-based economy, Erickson said.
Senator Thune was first elected to the Senate in 2004, when the first Renewable Fuel Standard was under development. He helped expand the program in 2007 and has been a determined advocate in encouraging the Environmental Protection Agency to get the program on track for future growth.
Thune also was recognized helping renew tax credits for second-generation biofuels and for co-sponsoring legislation to ensure mandatory funding for energy programs in the Agriculture Act of 2014.
Through his efforts, Congress has incorporated innovative programs in the Farm bill to spur the development of biomass, purpose grown energy crops, bio-based products and renewable chemicals, Erickson said.
Thune is a strong and consistent advocate for biotechnology in his home state as well, said Joni Johnson, executive director of South Dakota Biotech, the state affiliate for BIO.
Here is the original post:
Biotechnology group names Thune its legislator of the year - Watertown Public Opinion
Posted: March 7, 2017 at 8:46 am
The biotech industry had a rough 12 months. First the beatings came from presidential hopeful Hillary Clinton as she vowed to crush their pricing models. Now President Donald Trump is following up with similar promises.
For a long while, tickers like the iShares Nasdaq Biotechnology Index (ETF) (NASDAQ:IBB) were toxic to investors. The thesis was that healthcare and biotech companies were untouchable with the political cloud looming above them.
Recently, and in spite of the fact that that nothing has changed from the political standpoint, the worrisome headlines became stale and lost their zing. Thats what usually happens. Traders initially over-react to the headline and then after a while, return to trading the fundamentals.
The companies in the IBB have legitimate, viable businesses. This is a classic case of a bad apples who spoil the bunch.
Technically the IBB stock price is in a breakout that I rode higher on Feb. 11 with debit call spreads.
The important price action came when the IBB reclaimed the $280 per share pivotal zone. From here at the $300 per share level, it can once again provide a base from which to mount another leg higher. This area is an important long term pivot level so has the potential to be a solid base once it is cleared.
Click to Enlarge The ongoing IBB measured move has more upside potential, but there is also resistance looming above. Whats important to me as a premium seller is to find areas where price is not going so I can safely sell risk for income.
Now that Wall Street is repricing the IBB where it should be in spite of the headlines, I want to sell downside risk.
Finding the right level can be tricky. Biotech companies are susceptible to big moves on surprise headlines. Even though the IBB risk is spread among its components, they tend to trade in unison. So if one component of the IBB moves on a headline, the rest would follow in sympathy. This makes trading IBB via sold premium as risky as a single momentum headline stock.
The Bullish Trade: Sell the IBB Jan 2018 $255/$250 credit put spread. I collected $1 per contract to open which would be a 25% yield on risk if I win. The 15% price buffer gives this trade an 85% theoretical chance of success.
Usually I like to hedge my bet. In this case I will sell opposite risk so to balance the trade. There is no rush to do so in this uber-bullish markets. So I could delay entry until I see an abatement in the exuberance over biotech stocks.
The Hedge (optional): Sell the IBB Jan 2018 $355/$360 credit call spread. I collect an additional $1 per contract to open.
If I take both sides then I would be in a sold iron condor where I need IBB to stay between $255 and $355 per share. If IBB stays in the range, this trade would yield over 60% on money risked.
I am not required to hold my options trades open through expiration. I can close either at any time for partial gains or losses.
Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him on Twitter at @racernicand stocktwits at@racernic.
Here is the original post:
Study Free Profits From iShares Nasdaq Biotechnology Index (ETF) (IBB) Stock - Investorplace.com
Posted: March 7, 2017 at 8:46 am
By Serge Berger, Head Trader & Strategist, The Steady Trader|Mar 7, 2017, 8:02 am EST Popular Posts: Recent Posts:
Biotechnology stocks as represented by theiShares Nasdaq Biotechnology Index (ETF)(NASDAQ:IBB) have rallied 13% year-to-date. Thats notable considering that over the past 12 months, the IBB ETF has only rallied by about 14%.
Many traders in recent days have pointed to the continued strength in biotech stocks as a sign that the broader market is not yet ready to roll over. But it is notable that the IBB, as a result of the recent rally, has now reached an important technical level on the charts that may offer better technical resistance.
A simple yet effective trick that I repeatedly use to gauge the internal strength of the broader stock market is by checking the pulse of the so calledrisk-on groups. While these groups change over the years, they often include technology and financial stocks. In recent years, biotech, tech as a whole and small-cap stocks, among others, have led the risk-on pack.
Over the past few weeks, biotech stocks and the IBB ETF have showed both absolute and relative strength versus the broader stock market. Through this lens, one could argue that it is premature to get too defensive on the stock market in the near-term and possibly the intermediate-term until biotech stocks begin to back off some.
When I last discussed the state of biotech stocks on Feb. 1,I offered that the IBBs bullish reversal from Jan. 31 could be the beginning of a next swing higher with price targets in the$285-$290 area. Two weeks later, the upper end of this price target had been reached, and last week the IBB ETF further extended this rally into the $300 level.
Now, lets look at the charts.
On the multiyear weekly chart, we see that this recent rally has brought the IBB back to the very upper end of a sideways channel, which now also lines up with the 100-week simple moving average (blue).
Click to Enlarge
This confluence of technical resistance around the $300 area could provide a more meaningful challenge to be overcome.
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Article printed from InvestorPlace Media, http://investorplace.com/2017/03/ishares-nasdaq-biotechnology-index-etf-ibb-is-at-a-crossroads/.
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iShares Nasdaq Biotechnology Index (ETF) (IBB) Is at a Crossroads - Investorplace.com
