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Jul 29, 2024

Pharma and Medical Suppliers Soar: Weekly Performance Surge of +19.91% for $MOH, $CAH, $CTSO, $CCLD, $WELL, $APYX, $KC, $NARI, $PBLA

Robots for this group tickers :
Day Trader, Popular Stocks: Price Action Trading Strategy (TA&FA)
Swing Trader, Popular Stocks: Price Action Trading Strategy - Pro Version (TA&FA) 

One such sector that has recently experienced a surge is the pharmaceuticals and medical products industry, showcasing a remarkable 19.91% increase in performance over the past week. This analysis delves into the key indicators, notable stocks, and trends shaping this success story.

Tickers and Positive Outlook

Tickers in the Group: MOH, CAH, CTSO, CCLD, WELL, APYX, KC, NARI, PBLA

Positive Outlook: The group enjoys a positive outlook supported by the 15 Indicator Stock Fear & Greed Index, indicating a bullish sentiment. Tickeron predicts a further increase of over 4.00% within the next month with a likelihood of 49%. The daily ratio of advancing to declining volumes over the last month was 1.29 to 1.

MACD Confirmation: Notably, four stocks in this cluster confirmed the positive outlook based on the Moving Average Convergence Divergence (MACD) indicator, with an average probability of 80%.

Theme Description and Group Composition

Theme Description: This theme encompasses companies that supply pharmaceuticals and medical products, including gloves, surgical apparel, fluid management products, hospital furniture, cosmetic surgery devices, health insurance providers, and healthcare software developers. Recognizable players in this sector include Cardinal Health, Hill-Rom Holdings, Apyx Medical, and Molina Healthcare.

Market Capitalization Insights

Average Market Cap: The average market capitalization across this medical theme stands at 11.3 billion USD. The market cap for individual tickers ranges from 2.6 million USD to 49.5 billion USD, with WELL commanding the highest valuation and PBLA being the lowest valued at 2.6 million USD.

Highs and Lows in Prices

Weekly Price Growth: The average weekly price growth for all stocks in the medical theme was an impressive 19.91%. Notable performers include CCLD, experiencing the highest price growth at 85.95%, while MOH saw a -4.34% decline.

Key Price Movements:

  • CareCloud (CCLD): On 11/9/23, CCLD saw a significant weekly gain of +22.4%.
  • Welltower (WELL): On 10/11/23, WELL exhibited a weekly gain of +5.5%.
  • Cardinal Health (CAH): Similarly, on 10/11/23, CAH recorded a weekly gain of +5.51%.

Volume Dynamics

Weekly Volume Growth: The average weekly volume growth for all stocks in the medical theme was -62.97%, reflecting a decrease in trading activity. Cytosorbents stands out with consecutive increases in volume over five days, averaging gains ranging from 177% to 200%.

Individual Ticker Analysis

1. MOH: In a Downward Trend

  • Observation: MOH broke above its upper Bollinger Band on December 12, 2023, signaling a potential downtrend.
  • Recommendation: Investors may consider selling the stock or exploring put options based on historical patterns.
  • Price Movement: The stock is currently trading between $406.04 resistance and $335.22 support lines.

2. CTSO: In an Upward Trend

  • Observation: The 10-day Moving Average crossed above the 50-day Moving Average on December 18, 2023, indicating a bullish trend.
  • Recommendation: Considered a buy signal, with an 83% historical probability of continued upward movement.
  • Price Movement: Currently trading between $2.01 resistance and $1.67 support lines.

3. CCLD: Positive MACD Histogram

  • Observation: CCLD's MACD turned positive on December 21, 2023.
  • Recommendation: Historical data suggests an 82% chance of continued upward movement.
  • Price Movement: Currently trading between $1.86 resistance and $1.16 support lines.

Summary

In the dynamic realm of pharmaceuticals and medical products, investors find a promising landscape. The positive outlook, supported by various indicators and the historical performance of individual stocks, paints a favorable picture for the future. As always, investors should conduct further research and consider their risk tolerance before making investment decisions in this thriving sector.

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