Biotech: Downside Leader

SPBIO Down More Than 29%, From Highs

The marked chart below, shows support penetration, test and reversal.

If testing’s complete and there’s no more upward action in the coming week, SPBIO looks to be on its way to much lower levels.

Recall, that price leads the news.

If there’s a major break lower, we’ll have the corresponding news item(s) as the ‘reason’ for the break.

Stay Tuned

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