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Market Overview

Watch for Continued Gains in Shares of SPDR S&P Biotech ETF (XBI)

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(via COMTEX News Network)--

Shares of SPDR S&P Biotech ETF (AMEX: XBI) traded at a new 52-week high today of $71.99. Approximately 52,000 shares have traded hands today vs. average 30-day volume of 151,000 shares.

SPDR S&P Biotech ETF is currently trading at $71.68, approximately 11% above its 50-day moving average of $64.60. SmarTrend will be monitoring shares of XBI to see if this bullish momentum will continue.

In the last five trading sessions, the 50-day MA has climbed 0.75% while the 200-day MA has risen 0.5%.

In the past 52 weeks, shares of SPDR S&P Biotech ETF have traded between a low of $47.01 and a high of $71.39 and are now at $71.78, which is 53% above that low price.

SmarTrend currently has shares of SPDR S&P Biotech ETF in an Uptrend and issued the Uptrend alert on September 13, 2010 at $56.63. The stock has risen 26.1% since the Uptrend alert was issued.

Write to Chip Brian at cbrian@mysmartrend.com

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