iShares NASDAQ Biotech Index (IBB) is the Chart of the Day

NEW YORK (TheStreet) -- The iShares NASDAQ Biotechnology Index ETF (IBB)is downby 0.05% to $339.52 in late morning trading on Monday.

The iShares NASDAQ Biotechnology Index is an exchange-traded fund that seeks investment results that usually correspond to the price and yield performance of the NASDAQ Biotechnology index.

TheStreet's Bryan Ashenberg and Bob Lang of Trifecta Stocks have identified the iShares NASDAQ Biotechnology Index as the "Chart of the Day." Here is what Ashenberg and Lang had to say about it:

The iShares Nasdaq Biotech ETF (IBB) has been on fire for the past six months, with higher highs and higher lows on the chart. It's also been reliably bouncing at the 50-day moving average (blue).

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iShares NASDAQ Biotech Index (IBB) is the Chart of the Day