Dallas, TX -- (ReleaseWire) -- 07/10/2008 -- TwinTrader.com announces the publication of Breakout for BBH; highlighting public companies on the move and what’s behind the surge.
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“Biotech HOLDRS are depositary receipts issued by the Biotech HOLDRS Trust, and represent an undivided beneficial ownership in the common stock or American depositary shares of a group of specified companies that are involved in various segments of the biotechnology industry…
“The veteran market timer of 25 years, Frank Kollar, issued a recommendation that if BBH can hold above its $170.11, the biotechs are a buy. Well, BBH has traded above its Fib 61.8% “retracement” level…
“The daily chart clearly shows a clean breakout above $172.50. Massive buy orders and covering shorts were waiting above this level. The 50-day moving average has not confirmed the extent of the new trend. But if the ETF can hold above $172.50, the 50-day will cross the 200-day MA. RSI stands at 66.78 a neutral reading...”
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