The annual ASH meeting begins on December 1, 2018. The annual ASH meeting is regarded by many as THE major biotechnology conference of the year. Lots of companies will be presenting results of recent clinical trials at the event. Biotech investor will be nervously awaiting the data releases after the bad performance biotech stocks are putting in right now in this risk-off market.
It is too risky to invest in biotech stocks right now. The only daytrade is probably a quick scalp on a positive data release to where you are in the stock for only a few minutes. Traders are very skittish right now so even that strategy is very risky in the current market environment. Check out the chart of the Biotech ETF IBB.
IBB is just a day or two away from a major sell signal of the 50 day moving average crossing below the 200 day moving average. This Burial Cross is one heck of an ominous signal for biotechnology Bulls. Notice that we don’t have a capitulation spike in volume like we did at the end of October 2018. That could suggest that the low in biotechs has not yet been put in; however, not all sell-off reversals end in a capitulation volume spike.
Below is a list of some publicly traded biotech companies that will be releasing data at ASH next week. Clicking each box will take you to a details page where you will learn more about the upcoming ASH presentation as well as seeing an updated stock chart from TradingView and the most recent news stories on that company from Google News.
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