Big Cap Pharma is Turning Up
- Posted by Greg Harmon
- on May 14th, 2013
Tuesday morning I wrote about how Healthcare was ready to take some leadership again, and it is moving a bit today (although everything is). But lets talk specifics. Here are 3 stocks that all are reversing back higher on the weekly timeframe.
Eli Lilly, $LLY
Eli Lilly, $LLY, is bouncing off of the 20 week Simple Moving Average (nearly equivalent to the 100 day SMA) after a short pullback. this pullback reset the Relative Strength Index (RSI) back below the technically over bought level and pulled down the Moving Average Convergence Divergence indicator (MACD) from its recent new high on the signal line. The Measured Move higher takes it to 67.50.
Merck, $MRK, pulled back from its recent high on the earnings report and is now heading back higher. The RSI here is also moving back higher after resting off the technically overbought level and the MACD is leveling. The Measured Move higher ion this one takes it to 53.
Pfizer, $PFE, is doing the same thing, settling after pulling back and now reversing higher. The RSI is back rising and the MACD has pulled back a bit and is stabilizing. The Measured Move higher in this name takes it to about 35. I hear Joshy (@ReformedBroker) likes this one too.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through April 2013 Expiry and sign up here.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Macro Week in Review/Preview October 24, 2014
- Premium Earnings 10-24-14
- Don’t Tell Merkel – The DAX is Below Critical Levels
- Thoughts on an Earnings Trade for Amazon
- Premium Earnings 10-23-14
- The Super Dollar’s Next Leg Up
- Listening to the Megaphone in CVS
- Premium Earnings 10-22-14
- Market Musings of a Non-Perma-Bull
- Trust, But Verify: Home Depot