Rich Ross Shares His Biotech Trades

On CNBC's Fast Money, Rich Ross spoke about the biotech stocks that could trade higher.

He said that BioMarin Pharmaceutical Inc. BMRN is in an uptrend and it has been making higher lows all year. It's currently trading at its 100-day moving average and he noticed a triangle pattern on its chart. He thinks the stock is going to break out to the upside from the triangle.

Incyte Corporation INCY is forming a strong base of support, said Ross. He noticed that its 50-day moving average is trading above its 150-day moving average and the stock reached a new high. He thinks it's going to continue to trade higher.

Ross believes that Horizon Pharma PLC HZNP is going to move higher. He noticed a double bottom pattern on its chart, which makes him bullish.