Mississauga, ON -- (SBWIRE) -- 05/02/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "ProtoKinetix's AAGP(TM) Improves Results in Stem Cells Transplanted in Retina Significantly."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) and ProtoKinetix Inc. (OTCQB:PKTX).
After a short relief rally that lasted nearly a month, the biotech sector is seeing a correction. Indeed, over the past five trading sessions, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) has dropped more than 7%.
The IBB has also dropped below a key support level during this correction. The drop below a key technical level suggests that the market sentiment has once again turned bearish on the biotech sector. The sector had had a disastrous start to 2016 as it saw a huge sell-off in January and February. However, at the end of March, the IBB began recovering and the relief rally lasted nearly a month.
The latest pullback in the biotech sector has been caused by some disappointing earnings from major biotech companies over the past week. But all is not gloomy with the sector. This morning, ProtoKinetix Inc. (OTCQB:PKTX) announced some positive developments, even though shares were challenged with slight declines today along with the broader sector.
The full version of this article can be found at:
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