Biotechnology stocks pull back

FBIOX chart

We reported on February 15, that after a huge run-up the biotechnology sector became overbought and ripe for a pull back. The Fidelity Select Biotechnology fund (FBIOX, last change: -0.12%) indeed has corrected in the last few trading sessions. If FBIOX manages to find a support level, we wouldn't be surprised to see a new upleg getting under way in the near future.

Technical analysis screens are provided by FidelitySignal.com  

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