Normally when we see a such massive drops in equity, the on balance volume also trends down.
OBV is reaching a 2-year high, as we have dropped over 30%.
This divergence suggests pharmaceuticals could outperform as the market starts consolidating.
Regarding the volatility due to Medicare for All proposal, supported by Bernie Sanders, it seems highly...
As the PPH dropped 15% below the 200sma, OBV barely moved lower compared to the drop. (Between purple vertical lines). This is considered a Bullish Divergence .
Now with a strong pullback, we are half way to reach past highs; but this time with an OBV we have not yet seen since Feb, 2018.
Ready to buy the dip!
I expect big pharma to love the opportunity to get the chance to trial drugs on humans using informed consent as djt just signed the 'right to try act'.
Should be good for them and the terminally ill tbh