A Biotech To Short

Biotechs are getting pushed as the safe haven stocks in the current market environment. It is true that CELG and BIIB among others have outpeformed the market recently by making very solid moves upwards. However, other stocks in the biotech sector have languished.


GENZ has been a consistent underperformer. From the chart it looks like to me that it has been channelling downward and now has downside to 59. It looks to have solid resistance (the top of the channel) at around 65 where I would short it. A strong move above 66 should be a good indicator if we are wrong. Thus, I would recommending stopping out around there.

CM