For me, it is a screaming buy. Hear me out.
This was in my watch list for a while but I never get a chance to go long as the price keeps climbing up or my funds were tied up with other shares/ETFs, etc.
A 50% fall from the peak but what is more important is the parabolic move down, almost 5 straight weeks of 90 degrees plunge down. The sell down seems pretty serious and by any metric you used, it is way oversold and begs for a reversal.
However, on the daily chart, it is still RED which means the selling is not done yet and we could probably see more sell down days ahead to 196-279 price level.
So, I will be watching it closely this time and be ready to nibble some when it falls further.
Healthcare stocks seem to be battered in this sector rotation round so get ready your ammunition , the reversal could come sooner than later........
This was in my watch list for a while but I never get a chance to go long as the price keeps climbing up or my funds were tied up with other shares/ETFs, etc.
A 50% fall from the peak but what is more important is the parabolic move down, almost 5 straight weeks of 90 degrees plunge down. The sell down seems pretty serious and by any metric you used, it is way oversold and begs for a reversal.
However, on the daily chart, it is still RED which means the selling is not done yet and we could probably see more sell down days ahead to 196-279 price level.
So, I will be watching it closely this time and be ready to nibble some when it falls further.
Healthcare stocks seem to be battered in this sector rotation round so get ready your ammunition , the reversal could come sooner than later........
Note
Nope , I totally have no idea how bad it could goes down to. It is now at 274.35, crashing below the support line of 308.....Let the dust settle first, no hurry to go in.....
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.