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Rich Ross Shares His Biotech Trades

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On CNBC's Fast Money, Rich Ross spoke about the biotech stocks that could trade higher.

He said that BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) is in an uptrend and it has been making higher lows all year. It's currently trading at its 100-day moving average and he noticed a triangle pattern on its chart. He thinks the stock is going to break out to the upside from the triangle.

Incyte Corporation (NASDAQ: INCY) is forming a strong base of support, said Ross. He noticed that its 50-day moving average is trading above its 150-day moving average and the stock reached a new high. He thinks it's going to continue to trade higher.

Ross believes that Horizon Pharma PLC (NASDAQ: HZNP) is going to move higher. He noticed a double bottom pattern on its chart, which makes him bullish.

Posted-In: CNBC Fast Money Rich RossBiotech Long Ideas Media Trading Ideas General

 

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