BBSP says “The recent Biotech correction is fruitful”

2015-05-05 - Article published on BiotechBourse (translated from French)

For the time being, the market is correcting an excess of optimism, believes Jean-Charles Gand, a senior strategist at BBSP.

We hoped to cast more light on the current valuation of the Biotech sector from a technical and graphical analysis angle. In order to do this, we made a call to Jean-Charles Gand. The former long-serving head of Technical Analysis at Société Générale is one of the top French specialists in this area. Today, Mr Gand is a senior market strategist at BBSP, an independent Technical Analysis research firm, which has received numerous awards over the years from The Technical Analyst, the leading industry magazine. This year BBBSP celebrates its 25th anniversary: a token of its stability and success in a domain in which pseudo-analysts abound.

BiotechBourse: Should we consider the American Biotech sector to be overbought?

Jean-Charles Gand, BBSP: Strictly looking at the mathematical indicators currently used by technical analysts, the daily and weekly charts demonstrate that the sector is no longer increasing in the over-bought territory. For that reason, the recent correction is fruitful as it will allow the pursuit of the relaxation of these indicators and open new buying opportunities over time. 

To see rest of article: in English click on link below, or in French: http://biotechbourse.fr/la-recente-correction-sur-les-biotechs-est-vertueuse/

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