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Vitalii Liubimov's Avatar
published in Blogs
Jun 17, 2019

Healthcare sector ETF (XLV) trending lower since November

The overall market recovered from the selling that hit in December and that led the S&P 500 to a new all-time high on May 1. But not all stocks and sectors have recovered fully from the December selloff. One sector that has yet to recover fully is the healthcare sector. The Healthcare Select Sector SPDR (NYSE: XLV) peaked just above $90 back in November and it has yet to get back to that point.

In fact, if you connect the high from November with the highs from March and April, you can see the downward sloped trend line the ETF has formed. The fund moved above the trend line on June 11, but it was unable to close the above-said trend line.

We see that the 10-day RSI and the daily stochastic readings both hit overbought readings in the past few days before turning lower. The stochastic readings made a bearish crossover on June 11 and in the recent past, such events were not a good sign for the fund.

The Tickeron Trend Prediction Engine is also showing that the XLV may have a hard time in the coming days. The tool generated a bearish signal for the XLV on June 10 and the signal showed a confidence level of 70%. For the prediction to be successful, the fund will need to drop at least 4% over the next month. Past predictions on the XLV have been successful 84% of the time.

Related Ticker: XLV

XLV's RSI Oscillator ascends from oversold territory

The RSI Indicator for XLV moved out of oversold territory on November 20, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 21 similar instances when the indicator left oversold territory. In of the 21 cases the stock moved higher. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 27, 2024. You may want to consider a long position or call options on XLV as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for XLV just turned positive on November 25, 2024. Looking at past instances where XLV's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XLV advanced for three days, in of 335 cases, the price rose further within the following month. The odds of a continued upward trend are .

XLV may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 66 cases where XLV's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where XLV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for XLV entered a downward trend on November 29, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Notable companies

The most notable companies in this group are Eli Lilly & Co (NYSE:LLY), Unitedhealth Group (NYSE:UNH), Johnson & Johnson (NYSE:JNJ), Merck & Co (NYSE:MRK), ABBVIE (NYSE:ABBV), Abbott Laboratories (NYSE:ABT), Pfizer (NYSE:PFE), Amgen (NASDAQ:AMGN), Intuitive Surgical (NASDAQ:ISRG), Elevance Health (NYSE:ELV).

Industry description

The investment seeks investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in the Health Care Select Sector Index. In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies from the following industries: pharmaceuticals; health care equipment & supplies; health care providers & services; biotechnology; life sciences tools & services; and health care technology. The fund is non-diversified.

Market Cap

The average market capitalization across the The Health Care Select Sector SPDR® ETF ETF is 89.14B. The market cap for tickers in the group ranges from 9.7B to 739.66B. LLY holds the highest valuation in this group at 739.66B. The lowest valued company is HSIC at 9.7B.

High and low price notable news

The average weekly price growth across all stocks in the The Health Care Select Sector SPDR® ETF ETF was 5%. For the same ETF, the average monthly price growth was 12%, and the average quarterly price growth was 44%. LLY experienced the highest price growth at 4%, while UNH experienced the biggest fall at -10%.

Volume

The average weekly volume growth across all stocks in the The Health Care Select Sector SPDR® ETF ETF was 73%. For the same stocks of the ETF, the average monthly volume growth was -37% and the average quarterly volume growth was 14%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 60
Price Growth Rating: 49
SMR Rating: 61
Profit Risk Rating: 55
Seasonality Score: 15 (-100 ... +100)
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