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White hot Bio-Tech received a punch in face between March 1st to April the 15th, losing 20% of its value. Since mid April IBB has been attempting to recover from that decline. The rally over the past two months has recovered all but 23% of that swift decline.
IBB is now attempting to punch its was back into its steep rising channel and above the 23% Fibonacci retracement level at (1) above.
Should IBB succeed and climb back into its rising channel, it would be a positive bullish accomplishment for this sector!