EarningsBeats.com Digest

Published: Mon, 03/02/20

EarningsBeats.com Digest for March 2, 2020

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Biotechs Breakout On Relative Basis Despite Last Week's Selling

Sometimes a quick glance at gains and losses - mostly losses last week - masks improving underlying strength. For instance, we many times will see the benchmark S&P 500 clear previous lows, but certain areas of the market hold those lows. That's a solid technical signal that underscores improving relative strength. Biotechs ($DJUSBT) performed in that manner last week:

Because the above chart continues to suggest that biotechs are improving, it's very important for us to begin assembling a list of strong, leading biotech companies. We will be providing you a link to view our technical charts on these stocks later today or tomorrow, but for now, just wanted to pass them along to you:

(1) Vertex Pharmaceuticals, Inc. (VRTX)

(2) Regeneron Pharmaceuticals, Inc. (REGN)

(3) Seattle Genetics, Inc. (SGEN)

(4) AbbVie, Inc. (ABBV)

(5) Charles River Laboraties (CRL)

Happy trading!

Tom Bowley

Chief Market Strategist

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