Market Overview

Watch for Continued Gains in Shares of First Trust AMEX Biotechnology Index Fund (FBT)

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(via COMTEX News Network)--

Shares of First Trust AMEX Biotechnology Index Fund (AMEX: FBT) traded at a new 52-week high today of $42.89. Approximately 72,000 shares have traded hands today vs. average 30-day volume of 44,000 shares.

First Trust AMEX Biotechnology Index Fund is currently trading at $42.76, approximately 8.6% above its 50-day moving average of $39.37. SmarTrend will be monitoring shares of FBT to see if this bullish momentum will continue.

In the last five trading sessions, the 50-day MA has climbed 0.67% while the 200-day MA has risen 0.56%.

In the past 52 weeks, shares of First Trust AMEX Biotechnology Index Fund have traded between a low of $16.00 and a high of $42.39 and are now at $42.66, which is 167% above that low price.

SmarTrend currently has shares of First Trust AMEX Biotechnology Index Fund in an Uptrend and issued the Uptrend alert on May 10, 2010 at $33.06. The stock has risen 28.3% since the Uptrend alert was issued.

Write to Chip Brian at cbrian@mysmartrend.com

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