3 Explosive Biotech Stocks to Buy Once the Dust Clears …
3 Explosive Biotech Stocks to Buy Once the Dust Clears
Leadership has its privileges … and its drawbacks. Right now, biotech stocks are realizing one of the drawbacks as this normally investor-loved sector is being taken behind the woodshed. The reason: Traders are closing positions to lock in profits during a seemingly risk-off moment for the markets.
Source: ©iStock.com/Chepko
The move is eerily similar to what we saw last year when biotech stocks sagged by 33% between February and April as the sector corrected itself from a technically overbought situation.
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For now, biotech stocks will represent the falling knife, likely for a few weeks as the air comes out of the group. However, the pessimism generated toward the group during this pullback will eventually make several of these biotechs attractive as stocks to buy. We just want to wait for these stocks to become oversold, signaling our opportunity.
Grabbing the tiger by the tail in this sector can be difficult, but we’ll look at three biotech stocks to buy that fit our criteria as “buy the dip” candidates — and provide price ranges to buy into.
Article printed from InvestorPlace Media, http://investorplace.com/2015/03/3-explosive-biotech-stocks-to-buy-biib-regn-uthr/.
©2015 InvestorPlace Media, LLC
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3 Explosive Biotech Stocks to Buy Once the Dust Clears …
