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IBB is close to its target of 70/share.

|Includes: iShares Nasdaq Biotechnology ETF (IBB)

The MACD for IBB currently indicates a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9day moving average. Second, the MACD is above 0 which implies that the underlying moving averages are trending higher.  IBB is trading above its 13 day moving average. This is considered to be the sign of a bullish trend. There is added weight to this indication because the moving average is rising and suggests that there has been buying interest in this stock.