A Guide for Biotech’s Next Breakout
We looked at the communication services sector last week. It’s been one of the hardest-hit sectors of the bear market. But it’s now trading at cheap and attractive valuations relative to its peers. It’s also up 27% year to date and on the verge of a potential bullish breakout. Suffice to say, this sector is on my “bullish trades” radar. Though, as I mentioned last week, I am concerned that just two companies — Meta Platforms Inc. (Nasdaq: META) and Alphabet (Nasdaq: GOOGL) — make up a full 50% of the exchange-traded fund (ETF) that tracks this sector, the SPDR Comm. Services Sector ETF (NYSE: XLC).
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