Healthcare 6/14/17

Todays HC scan focused on stocks market cap over 50 million with average volume > 1 mln while in the Healthcare sector with price over $10 and above its 200DMA

This yielded 71 names.   We filtered this down with a slim technical scan to 24 to narrow the focus and put those 24 names through the complete level 2 filtration

Here are the 24 names that made the level 2 scan

24HCscan

This is how they rank coming out

HCSCAN2.png

Our focus will be on the names slightly above the middle of the pack (60% score) to try and time the next move.

First up is ABBV

Finally coming out of this weekly triangle.  Stock looks poised for new highs and we like this for more continuation

ABBV1.png

Next is CNC

This is something we have highlight recently because it scores well in the JXM24 but its level 2 is starting to perk up now.  Cleared is downtrend nicely, just needs to get back over the highs that started the set of lower highs.  Once it does that, a new uptrend should start

CNC1.png

Another one is CLVS

Big picture is that gap fill back around $100.  Shorter term it broke the neckline of a smaller inverse head and shoulder while also taking out the short term downtrend.  We expect this to retest the 2017 highs

CLVS.png

Lastly we have BKD

Long term bottom taking place.   Lower trend line hows higher lows after higher lows. Price is currently testing the longer term downtrend.  Back in 2010 and 2011 there was nice demand around this price that started massive upside moves

BKD.png

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s