With no changes to any of the Invesco models, we take a look at the Invesco Biotechnology & Genome ETF (PBE).
There are no changes to any of the Invesco models this week. As we discussed in last Thursday’s report, healthcare and biotechnology have recently shown significant improvement. Biotechnology now has an average score of 5.10, while healthcare has an average of 4.56; they also have the two highest score directions out of all 134 groups in the Asset Class Group Scores at 3.93 and 3.20, respectively.
Investors looking to allocate towards this strength may wish to consider the Invesco Biotechnology & Genome ETF (PBE). PBE currently has a strong 5.57 fund score, which is 0.47 points better than the average for all biotechnology funds, and a positive 4.79 score direction. On its default chart, PBE has completed two consecutive buy signals, most recently breaking a spread quadruple top in October that took out resistance that had been in place since August 2024. PBE reached a fresh all-time high last month and now sits one box away from setting a new high watermark, which would come with a double top break at $84. PBE currently sits in heavily overbought territory with a weekly overbought/oversold (OBOS) reading of 74%, so those looking to add exposure may be best served to do so on a pullback or after prices have normalized at current levels. Year-to-date (through 12/19) PBE has gained 24.32% on a price return basis.
