Biotechs Find Support
Biotechs have been under a tremendous amount of pressure since hitting highs
in early October 2000. As they sold off, you would likely have been looking for
where they might find support, and tracing the biotech index
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back to their April 2000 lows would have been the best indication on where they
would find support.
As you can see with Protein Design Labs
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bounce of that same area of solid support as evident in the weekly chart below.
PDLI ended the day up 3 11/16 to 44 1/2.
Also showing the same type of bounce off of support was
Millennium Pharmaceuticals
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Have a great weekend,