Heavy selling observed across the S&P500: Financials & Real Estate hit hard. S&P500 hitting the 50 day MA...technical daily support. Some breakout sectors are seeing there first pullback in a bullish trend. The sectors that have had breakouts will likely see dip buyers. Health Care & Utilities are into some interesting support levels. This is where bulls...
HIMS had an excellent earnings report for a small cap company; it is consumer driven quality focused and helps the customer feel good about him/her- self. It does not have any gender orientation agenda nor any obvious political inclinations. On the 120 minute chart, it started a moving averge convergence about a week before earnings. The Greeny TTM...
Positive news on phase 3 trials. Possible US food & drug admin application next year 2025 8.5 times the usual 20 daily volume average. Red to green reversal. This all points towards likely higher prices. If their application next year gets approved expect a monster move. Investors will likely try to front run this.
Humana has been trading into key long term support. This stock has been under severe pressure and is starting to appear to be carving out a potential base. it seems that 1 more flush in this name may prove to be a swing tradable entry on the long side. The weekly Death cross formation is close to occurring. This is no doubt a bearish long term signal but...
Discussing all the sectors of the S&P500 sectors. Looking for capital rotation trades. DJT XLB XLC XLE XLF XLI XLK XLP XLRE XLU XLV XLY
SPDR Select Sector Fund – Healthcare Index AMEX:XLV The chart speaks for itself, we have our breakout levels and our break down levels. We enter on a breakout and set a stop 5% under that support and we exit and or short if we fall under the two underside support levels. Below I outline some reasons why the healthcare sector is worth paying attention too....
Baxter has been obliterated on the back of Ozempic. This stocks is hitting multidecade support, in a very oversold condition on the larger time frames. You also have a Monthly RSI divergence occurring which could help the technical bounce scenario .
HealthCare looks to have just closed the week with a failed breakout. Getting a weekly close below the impulse breakout green canceled is never a good sign. Off of Bearish consolidation some Health care stocks may be a good short play. Using the up-sloping trend line & weekly 200 MA as support. Using the Weekly 100 MA as resistance . Recapturing the Weekly...
This is usually a market leader! When market leaders trigger bearish patterns, you need to be cautious. Not an all out short but with bearish consolidation under the neckline it's worth taking a stab. As long as rejection occurs at the neckline this could see like downside.
On the weekly timeframe XLV continues to coil. On the daily timeframe we may have seen a double top after the rejection at the bottom of the gap (136.50 area). FWIW these options can move, but they are low volume. On high momentum days trading the same week can be effective. Personally, I prefer to bid for calls on red days and puts on green days with swing...
🔹Breakout ceiling trend channel in short-term 🔹Breakout resistance at 136, next resistance at 140. 🔹Technically POSITIVE for the medium long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder | BULLISH | 🟢 Verify it first and believe...
Continued weakness should follow for many health care stocks. A bearish breakdown has been observed, this sector does typically get strong technical oversold bounces. I see a daily chart pattern down to sub $126
Discussing a potential capital rotation trade. We analyze Tesla, Amazon, Pfizer, Moderna, Hershey, and others to get a sense of what is going on.
ABC currently is Bearishly Diverging on the MACD and RSI around the 2.414-2.618 PCZ of a Bearish AB=CD where it has also developed a Bearish 3 Drives Pattern and a Bearish Shark. If we get the action I'm expecting to see from here, it will come down and break through the trend line and then continue down to the 0.886 retrace at $77 in a dramatic way.
XLV health care has had a tremendous rally as money has moved into these defensive business models. LLY looks primed for a decent pullback .
- NASDAQ:QQQ falling wedge pattern is about to break likely break tomorrow. - QQQ & AMEX:SPY still trading in the same tight range for 3 weeks likely breaking this week with all the big tech earnings - NASDAQ:MSFT NASDAQ:GOOGL Earnings report tomorrow AH
Align Tech looks poised to break higher. This bull flag on the weekly looks strong. Risk & reward are clear. Abide by techncial stops & targets.
CVS is completely oversold and into massive support. Will see see a technical bounce in the near term? The previous breakout zone is approaching.