Afternoon Update - The Drug Sector
The Pharmaceutical Index- Amex (DRG)
The monthly chart of the DRG shows that it has recently completed it's back test to the down trend line at around $300.00 and is just this month beginning to move back up. This month the DRG is up 3.93% so far and is at $338.07 and is at a two year high today. It has a bullish trend reversal in all time frames.
The Pharmaceutical Index- Amex (DRG)
The weekly chart of the DRG shows that it is in a fractal pattern with 2 reverse head and shoulders showing up. Today the weekly chart made a new high @ $338.12. The indicators and oscillators are bullish.
The bottom line is that, even though some bio and pharma stocks seem to go in and out of favor each day, the bio and pharma sectors are hot hot hot!
