Healthcare sector re-accumulation?As chart says, I'm looking at a possible re-accumulation. Trigger would be if PA resembles the green squiggly line.
$SP:S5HLTH Could Be Ready For a Reversal to the Downside The S&P 500 Healthcare Sector broke last weeks high and is now just under the Ichimoku Cloud on the Daily. Flying way above 2023’s High of 1594.66, MACD is still negative and RSI a bullish 53.23. Golden Fib retrace showing strong resistance at 1683.59. If we get a rejection below the week open price
S&P 500 Healthcare Channel evaluationS5HLTH 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 H
S5HLTH bounce off the support lineafter big retracement, setting the buy order above the support line.
1R = ATR , P:L = 1:2
All sectors in a weekly graphStill no signs of an imminent crisis, although Telecommunications SP:S5TELS sector is going in a descending triangle. Could it trigger the inversion?
Gold and Silver NASDAQ:XAU , in the meantime, broke an important support.
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
