Bullish context: weekly uptrend
Price position: near last weekly trend low
Pattern: four consecutive red days with little upthrust (progression of lows)
It looks like previous weekly consolidation area is providing support, and bears are too exhausted to break through it now.
This provides an opportunity for a long play. An example of possible trade is shown...
AMEX:XLV has formed a five-week equilibrium. The price contraction is already quite tight, indicating that this equilibrium could break very soon. The context is highly bullish: the XLV price is on a weekly uptrend, and the broader market is also showing strong performance. The odds are in favor of an upside breakout.
On the chart, there is an example of a...
The healthcare sector seems really indecisive if you ask me. Look at all those doji candlesticks. I see why you're not supposed to make moves on these type of candle prints. Especially for someone like me who is a trend trader by nature. We have no choice but to wait and see which way the market wants to move. Up, down, or continue this slight sideways movement....
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....
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.
technical overbought instrument awaiting pullback
AMEX:XLU has long been considered a safe sector for fixed income. Increasing cost of debt and regulatory restrictions on revenue with continued rising rates eventually pushed the largest growth opportunities in the sector out of favor and put downward pressure on the entire sector. Before the market came to appreciate this fundamental shift we can observe a...
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...
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...
Very similar setup to COST prior to it breaking out a few months ago. COST made it all the way to the apex before breaking out. I don't think this one will take that long but I'll be keeping an eye on this chart later into the year for another move similar to COST.
Healthcare - XLV
Health Care: Companies involved in healthcare-related services, including pharmaceuticals, biotechnology, medical devices, hospitals, and health insurance.
Economic Cycle Sensitivity: Health care companies tend to be less sensitive to economic cycles. The demand for health care products and services remains relatively stable, driven by factors...
🔹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...
Inverse Head and Shoulders.
Price has 1 close above the neckline. Some would wait for 2 closes above the neckline.
NO recommendation
Overbought with RSI set on 70
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
S+P SPDR XLV Health Care ETF was the strongest industry group on 7/14/23.
XLV technical price pattern is looking very bullish !
Shown here on the Institutional 4 Hour Chart, it shows clearly that health care stocks
are under "accumulation" by big money investors.
Interestingly, health care is considered a defensive play,
so institutional money managers may now...
AMEX:XLV Has been consolidating for about 2 years now. Currently in a symmetric triangle. If it breaks out it can head to $140. Downside risk is $127. 👀ing.
Look at all your indicators on the weekly..
The Money flow , CCI , and Bollinger bands are my Favorite; all 3 are telling me a reversal is here..
Entry - over 125
Stop loss - 123.50
Target 130 then 134
