Has Aleafia found a bottom?Aleafia is looking to retest a recent support that was made May 3rd.
If it holds then we will see a double bottom & possibly a reverse in the trend after the break through the descending triangle I spoke about in my previous post.
Healthcarestocks
$JSENTC Netcare 911, we have an emergency!This chart looks like an emergency that requires an urgent intervention! Perhaps the major volume seen today could be an indication of capitulation and i will be monitoring the price action in the days ahead to see if it is able to recover from these over extended levels. Should this level hold which is also coincidentally the bottom of the downward sloping channel, we could see a bounce take place to the R21.00 - R21.60 area. R21.60 is an area where the chart also has a small gap which might want to fill first before any further downside ensues.
ISRG: Topping Formation Risk for Selling Short PotentialIntuitive Surgical Inc., under the Medical Instruments and Supplies industry, has had strong growth over the past 3 years but it is now facing the risk of a topping formation. The topping pattern is near the phase where a completed top could occur and then downside action would include sell short professionals and sell short HFTs. Support doesn’t kick in strongly until the stock reaches the 240-250 area, which is below the 50% loss of most companies thus far in the bear market. Many firms have already lost 50% or more off their all-time high values. ISRG can shift sideways and stay there to pattern out the excessive speculation, but the technical pattern is setting up more like a risk of a top formation at this moment in time.
PFE bullish signalPFE shares show unusual buying. This should help the stock continue its bullish move higher.
MRK breaks out to new 52-week highs quietlyThe Health Care sector has been showing very nice breadth. MRK remains a leader in this tape.
BIOTECH bouncing back!!A choppy market since the February market turmoil, but I think we are back on track. Longterm we are still locked in a bullish play, and I think we may have completed a 4thwave play on the internal wave count and are now making moves to shape up the final 5th-wave.
Here is the longterm view so far:
A Low Beta Way to Play Biopharma IndustryAttached is a piece about SWKH in which I discuss the value within the company, and I suggest it as a way of exposure to the healthcare technology sector without the risk. How is that possible? SWKH uses debt investments when making acquisitions in companies. Debt investments are usually the first investments to be paid back in full when a company undergoes liquidation / bankruptcy. Give it a read and let me know what y'all think.
rockvuecapital.wordpress.com
All the best,
RC
