Will the Biotech sector sustain its momentum in 2024?

Key Points

Biotech's iShares ETF (IBB) experienced a near 4% upswing on the year's first trading day, outshining struggling sectors.
The IBB ETF now faces critical resistance at $138 after a robust three-month climb.
AMGN, VRTX, and GILD, the top holdings in the ETF, significantly impact the sector's direction based on their individual performances.
5 stocks we like better than iShares Biotechnology ETF

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About The Author

Ryan Hasson

Contributing Author

Technical Analysis, Momentum Trading, Risk Management

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Companies Mentioned in This Article

Company	MarketRank™	Current Price	Price Change	Dividend Yield	P/E Ratio	Consensus Rating	Consensus Price Target
Amgen (AMGN)	4.4984 of 5 stars 4.50 / 5 stars	$334.85	+0.2%	2.69%	47.84	Moderate Buy	$312.63
Gilead Sciences (GILD)	4.757 of 5 stars 4.76 / 5 stars	$77.01	+0.7%	4.00%	213.92	Hold	$81.81
Vertex Pharmaceuticals (VRTX)	3.8672 of 5 stars 3.87 / 5 stars	$495.26	+0.6%	N/A	32.14	Moderate Buy	$460.30
iShares Biotechnology ETF (IBB)	N/A	$148.26	+0.8%	0.27%	N/A	N/A	N/A