Stock market investing | Ticker Of The Week: Healthcare SPDR (XLV) - Contrarian Stock Market Investing News

Sunday, November 22nd, 2009

Ticker Of The Week: Healthcare SPDR (XLV)

Mar 11th, 2009 | By Jim Stanton | Category: Stock Market Investing

As soon as the Obama administration began talking about healthcare reform, healthcare stocks began selling off and the Healthcare Select Sector SPDR (NYSE: XLV) reached a new low this week.

Take a look at its chart below…

By making new lows, XLV should get down to its next support level at $20.72, possibly as low as $19.87 before a sustainable rally can get underway.

A rally back up to the trendline – currently around $24 – before the $20.72 area is reached, is probably a good selling opportunity.

Source: Ticker Of The Week: Healthcare SPDR (XLV)

About the Author

Jim Stanton has worked in the financial markets since 1980 as a stock and bond broker, trader, and management consultant and his impressive quantitative and technical systems have generated outstanding gains for private investors and hedge funds. He contributes to Mt Vernon Research and the Smart Profits Report.

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Smart Profits Report is a comprehensive investment tool that brings you top chart analysis and cutting-edge trading techniques. Smart Profits Report's market-beating technical analysts reveal how to use highly effective charting tools that mainstream analysts know little about or nothing about.

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