A golden cross criteria is met when the 50sma crosses the 200sma in an uptrend. We might see it happen on CAH soon.
We see a potential flag with $52 resistance up-top.
OBV sustaining the chart's price.
RRR is good @2.5
*Check chart for more details
Healthcare is mirroring 2015-2016's triangle breakout pattern here with an obvious move above the trendline. LOTS of people see this, and there are many people viewing this as a repeat of the post 2015 rebound. I'm not totally sold on that scenario however. 2015-2016's healthcare consolidation saw a lot of frauds busted and companies deflated. Currently, we do not...
ABBV is currently breaking the 200sma, ending a 14 month downtrend.
On the next days I will be tracking the next tools:
OBV should trend higher to confirm this new uptrend. It still has not done that.
3 candlestick closes above the 200SMA would also be a confirmation signal.
EPISODE 4/11: US HEALTH CARE(XLV) SECTOR Technical Analysis- 16th of July 2019.
There is really not much to say. Profits in the health care sector are very reliable on the cycle. Since Trump took office, the cycle extended, and hence it formed a channel as noted in the analysis.
One major risk that has always affected the health care sector is regulation and...
No options highly liquid underlyings announcing earnings this week.
SECTOR EXCHANGE-TRADED FUNDS
There's gold premium to be had (in them there hills ... ), particularly in the miners:
Top 5 By Rank: GDXJ (86/36), GLD(86/16), GDX (63/30), SLV (62/20), XLV (60/15)....
I heard some interesting commentary this week from the pros about watching for signs in the cyclical:defensive sector ratio.
I put together this chart using (XLK+XLI+XLB)/(XLP+XLU+XLV).
It is a composite of tech, industrials and materials indexes as a ratio to staples, utils and health sector indexes.
The chart ratio is about 1:1 right now.
In a late stage...
XLV pulled back sharply largely to do with a knee-jerk reaction to the Dems ‘Medicare for all’ (ie Europe-style government health service). Contrast this to the general Dec 2018 market collapse, and we see
- a 7.2% W1 rise
- a 50% W2 pullback
- a W3 repeating the move, and running to the 1.618 fib
The price carried on after December, but just anticipating a...
Shares of generic drug manufacturer Mylan has become very attractive, especially after today's overdone selloff.
While the company has some hurdles legally (what drug company doesn't?) and has some internal housekeeping to tend to, the shares are becoming too cheap to pass up. At the time of writing, shares are trading at $23.30, down about 17% on the heals of...
UNH and other healthcare stocks such as Anthem, Cigna, etc. could be a potential area that benefits from those flocking from higher volatility areas that have earnings this week that are looking for some high quality value that were once "growth" stocks. I think UNH at least goes back to $250 area within the next week or so. I'm holding call options. Good luck!UNH
Will health care be strong during the potential draw down in the markets?
Day traders would know what to do with this short opportunity. Longer term maybe a little down side..
It's out there so we will see..
100% fib extension coincides with resistance level from ER gap down at the end of February.
Stock has not only weathered the recent market sell off but also printing a bull flag.
Anticipating a continuation of advance coupled with increased volume.
AT40 = 11.7% of stocks are trading above their respective 40-day moving averages (DMAs) (hit an intraday low of 9.4%, oversold day #3)
AT200 = 32.3% of stocks are trading above their respective 200DMAs (intraday low of 30.0%)
VIX = 21.3 (a decrease of 14.7%)
Short-term Trading Call: bullish
AT40 (T2108), the percentage of stocks trading above their...