If last week’s marketwide weakness was a prelude to the usual poor performance from stocks in August, then investors may want to think very strategically about the next few weeks.
Specifically, traders may want to limit their list of potential stocks to buy to those areas that can — and do — move independently of the rest of the market. And which stocks might those be? Biotech stocks — and in particular, biotech stocks with a specific reason to rally in the foreseeable future.
News, drug breakthroughs, and technical catalysts are just a handful of the reasons why these names could move higher even if the broad market is pointed lower this month. If an investor needs a little more direction, however, there are five biotech stocks that look especially promising here and now. In no particular order, here’s a closer look at all of them: