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[arthur]

BTK (Biotech Index) created a bullish inverse head & shoulders pattern (circle). Resistance is at the uptrend line. General support has been at the 200 day MA. Consequently, BTK may be near the bottom of the trading range, and BBH or DNA calls may be buys.

Both BBH (Biotech ETF) and DNA (second largest biotech after AMGN) created dojis today. The BBH calls are expensive and may be worth looking at to write covered calls. BBH is safer than DNA, since BBH is an index and created a double bottom, which is typically bullish. I believe, both stocks are in position to bounce short-term (and BBH may be an excellent long-term hold).