In the daily bar chart of XBI, below, we can see that prices have made a steep decline from the middle of February. This correction comes after more than doubling from March a year ago. XBI broke below the 50-day moving average by late February and a rally this month has stopped below the now declining 50-day line. Earlier this month prices dipped toward the rising 200-day moving average line and could make a more serious test of the line in the days ahead.
The On-Balance-Volume (OBV) line shows a decline from early February to now and suggests that traders have become more aggressive sellers of XBI. The Moving Average Convergence Divergence (MACD) oscillator moved to an outright sell signal in early March and is turning lower again.