S5HLTH is the S&P 500 Heakthcare Sector. It comprises of all the biggest boys in the health and pharma industry.
This sector's price action (as for the S&P as a whole) runs between the top and bottom channels on both daily and weekly charts. This is in line with the current world situation where Healthcare products and development have been highly in demand due to Covid pandemic.
Caution: We may see a bit of a down trend in the next days/weeks in this sector as the price action has reached an all time high on the daily chart. It then lost some of its momentum. Price action is currently into a lower high and the 50MA is descending (Green trend line). This could induce a reversal in the trend until the price hits the bottom of the channel and reverses back again into an uptrend. It could also break through the bottom of the channel and go into a downtrend. This would not be surprising. The pandemic is slowly weakening and should be ending soon. The demand in Covid related products will hence be reduced.
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This sector's price action (as for the S&P as a whole) runs between the top and bottom channels on both daily and weekly charts. This is in line with the current world situation where Healthcare products and development have been highly in demand due to Covid pandemic.
Caution: We may see a bit of a down trend in the next days/weeks in this sector as the price action has reached an all time high on the daily chart. It then lost some of its momentum. Price action is currently into a lower high and the 50MA is descending (Green trend line). This could induce a reversal in the trend until the price hits the bottom of the channel and reverses back again into an uptrend. It could also break through the bottom of the channel and go into a downtrend. This would not be surprising. The pandemic is slowly weakening and should be ending soon. The demand in Covid related products will hence be reduced.
Help out by joining my Patreon. One on one discussions about stocks and charting.
Stay humble, Have fun, make money!
