Biotech Breakout Spotted
Put on your rally caps, friends…
Yes, markets opened in the red today, but don’t let that fool you. There’s solid evidence we could see a 10% rise across major indexes over the next three months.
My friend and income expert Mike Burnick feels the same…
Over the past 10 weeks the Nasdaq has clocked quite a winning streak. And according to Mike, citing Bespoke research: “When the Nasdaq goes on to have a 10-week win streak, three months later the Nasdaq is up 100% of the time, with an average gain of 10%.”
I like those odds. And I expect some of the biggest gains to occur in biotech this year.
Along the way we’re going to pick lots of winners and put cold, hard cash in your pocket. Including taking a 35% win today for longtime followers.
Plus, I’ll introduce one of my next hot biotech plays with generational-wealth earning potential.
Biotechs Look to Break Out
Back in mid-February I noted we were in a holding pattern, waiting for the biotech sector to break through recent upward resistance. This was exemplified best by the Nasdaq Biotech Index (NBI):
Now we have our answer… and it’s a bullish one. Shortly after that update, NBI finally smashed through its upward resistance and looks like it could break out nicely:
Very often when upward resistance is tested multiple times without a significant drawdown (as we see in the NBI chart), that leads to a longer sustained upward trend.
Which leads us to the 35% win followers can lock in right now. If you’ve followed my alerts, at least.
Take 35% Gains Today
Way back in April of last year I suggested my followers take a swing on a lesser-known biotech that was showing major potential.
That company was Seattle Genetics (NASDAQ: SGEN). SGEN was drawing our interest because it had a pending priority review with the FDA. Speculation of a new drug to sell and a new revenue stream was enough to spark some buying.
And over the course of the next 11 months, powered by FDA approval of its new cancer therapy Adcetris in November and the sales that followed, SGEN is up 35% as I write this morning.
This week SGEN is meeting new resistance after mixed earnings forced shares to gap down. Shares have recovered, but SGEN looks like its gain potential may be exhausted for the time being.
It’s time to take profits off the table. And if you followed my advice back in April 2018, you locked in a nice 35% profit.
But it gets much better than that…
By my calculations… my next biotech play could offer you up to an incredible 6,231% in profits in as little as 72 hours!
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily