Biotechs bucking the bearish ideas to look like bullish potential

I've been bullish on biotech for a while though I don't track it often. But it's hard to ignore right now that they're once again showing more bullish than the broad market. I don't keep an Elliott Wave count on biotech and can't guarantee it won't have pullbacks along the way. But in general I view pullbacks in this sector as buying opportunities. And a breakout here should be another buy point. Still and always a good idea to use some stop protection and position management of course. My approach for this sector is long-term position, adding more at buy points and only trimming if it looks clearly overbought. Long-term it's a smart sector to remain in and even increase.

Technically, the StochRSI remains in the upper positive/momentum readings, and the slower-moving DMI-ADX is positive too (and is poised to move higher which would place it into trending territory). And the daily chart is perking up now. A breakout that holds recent swing low support should place first the StochRSI and then the DMI-ADX indicators into positive trending territory too. Those are just a couple of ways that indicators can help corroborate that upward movement has strength. Showing that in both daily and and monthly supports the view that the uptrend should remain intact for a long time to come.

Using ETFs makes a lot of sense here unless you really do homework to pick individual companies. BBH is one well-known biotech ETF, and there are others.