Sector momentum: biotechnology stocks are on fire

FBIOX chart

The Fidelity Select Biotechnology fund (FBIOX, change: 2.37%) has moved to the number one spot of the momentum rankings and had the largest percentage gain today. The red trend line drawn on the chart highlights the incredible rise of FBIOX. FBIOX is now in overbought territory and a near-term correction will not be surprising to see.

Technical analysis screens are provided by FidelitySignal.com  

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