Online:
Visits:
Stories:
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Healthcare Sector On The Verge Of A Major Breakout — Or Breakdown

Sunday, February 26, 2017 4:43
% of readers think this story is Fact. Add your two cents.

(Before It's News)

From Taki Tsaklanos: The healthcare stock market sector is the outperforming sector in the S&P 500 in February 2017. Though this is an interesting insight for investors, the more important observation is the chart setup of the health sector (which is discussed in more detail in this article).

First, relative strength of heath care compared to other stock market sectors is very strong. In February 2017 healthcare was the best performing sector as shown on the first chart.

Health care rose 2.16 percent in February, followed by consumer staples +1.23 percent technology +1.21 percent. Energy stocks were the biggest losers this month, which does not come as a surprise as InvestingHaven identified that Energy Stock Market Investors should be careful as long as the XLE ETF remains in its current price range.

stock market sectors

Health care stock market: watch the current chart setup

The chart of the health care stock market sector (XLV ETF) looks amazing. Watch the triangle pattern which is shown on the chart below. Since October of last year XLV was seemingly breaking down. However, the health sector refused to go lower, and investors consider this to be a false breakdown.

Interestingly, the health sector recovered and is now on the rise, even outperforming all other sectors as explained earlier.

The most interesting observation on XLV’s chart is the narrow range between support (72.50) and resistance (75.00). This suggests that the sector will break out or break down, sooner rather than later. Smart investors are paying attention to the healthcare sector.

health care stock market sector

The Health Care SPDR ETF (NYSE:XLV) closed at $74.78 on Friday, up $0.36 (+0.48%). Year-to-date, XLV has gained 8.47%, versus a 5.91% rise in the benchmark S&P 500 index during the same period.

XLV currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 36 ETFs in the Health & Biotech ETFs category.


This article is brought to you courtesy of Investing Haven.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)



Source: http://etfdailynews.com/2017/02/26/healthcare-sector-on-the-verge-of-a-major-breakout-or-breakdown/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.