Big Cap Pharma Is Turning Up
Dragonfly Capital | May 14, 2013 12:54AM ET
Tuesday morning I wrote about how Healthcare was ready to take some leadership again, and it is moving a bit (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
Merck, MRK, pulled back from its recent high on the earnings report, and is now heading back higher. The RSI is also moving back higher after resting off the technically overbought level, and the MACD is leveling. The Measured Move higher on this one takes it to 53.
Pfizer, PFE
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.
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 Original post
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