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Berger: Biotech ETFs bubbling higher
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The massive rally in the biotechnology sector is not over according to Serge Berger, also known as The Steady Trader. Serge is interested in investing in the iShares Nasdaq Biotechnology ETF (IBB), which is up 20% year-to-date. Although the industry has seen tremendous growth, not all companies are seeing equal growth, which is why Serge is investing an ETF. The iShares Nasdaq Biotechnology ETF (IBB) and the SPDR S&P Biotech ETF are the two largest ETFs in biotech. Given both the relative and absolute strength seen in the biotech sector over the past month, there is still potential for one more break higher according to Serge. Therefore, he is looking to buy the biotech ETF at USD 366.50 with a target of USD 385. A stop can be placed at USD 354.
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