Monday, May 29, 2006

Biotechs and Pharma - Best Performing Tech Sectors?

Biotechs and Pharma were leaders in last week's tech recovery. Here are the sector charts and some leading names in each.

Biotechs



AMGN made a higher low and looks well positioned to challenge recent resistance levels.

GENZ has room to move higher before running into resistance.

MYGN has recaptured its trendline and 50 MA and looks well positioned to retest recent highs.


Pharma



VRTX has had a significant correction and managed to hold its 200 MA. Now it looks like it will test its downsloping trendline.


ARNA filled its bullish gap support and bounced back with a lot of momentum.

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