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Actionable news in IBB: iShares NASDAQ Biotechnology Index Fund,

Jim Cramer's 'Off the Charts': Biotech Gets a Short-Term Bottom

Jim Cramer's technical analysis segment on Mad Money focused on the volatile biotechnology sector Tuesday.

In the "Off the Charts" portion of the show, Real Money contributor Carolyn Boroden returned with her look at some big names in biotech and the sector ETF.

Boroden said she noticed what looks like the termination of a downside corrective pattern in iShares Nasdaq Biotechnology ETF (IBB) . This pattern has been developing since early February. It is the combination of what she typically looks at, which are the Fibonacci ratios on the price axis of the market, along with a classic chart pattern called a double bottom.

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