Today, the market had another pullback to the 134 level where bulls managed to defend it. We closed right under 134.50. It does worry me that we're consolidating below VWAP, where we broke down from. Tomorrow I'll concentrate on how the market acts if it gets to 135.50. If we can manage to safely bounce to that area and not sell off again, below are some Healthcare/Drug related stocks I want to look forward. All of these have designated levels I want to look at and will offer at least 5x reward if the levels hold. $AET $AMGN $HUM $JNJ $MR $WPI $AMRN $ENDP $TMO
(only daily charts are shown, please look at the smaller time frames to see how I got some of my levels)
AET levels - 42.25 support, 42.80 price of interest
Above 43, there's room until 44
AMGN levels - 58.10 support, 59.20 resistance (selloff)
Pretty big bounce from 58 area. If the stock can get back above 59 and hold, this is a good name for a long hold.
HUM levels - 78.60 resistance
Get long if the stock holds above 78.50 for a couple pts.
JNJ levels - 66.75 needs to break and hold
Tgt of about 67.50 - 68
MR levels - 30.50 is a nice short-term resistance level
Completely outside the bollinger bands so want to be careful
Tgt of 31
WPI levels - 62.75 inflection, 63.50 resistance
Tgt if that breaks: 65 upper bollinger
AMRN levels - 16.80 accumulation/support, 17.50 highs
ENDP levels - Unable to hold underneath 42
TGT - 43 and then 44.50
TMO levels - Unable to hold below 61, resistance at 61.50
Tgt above 61.50 is 63 (weekly level where it sold off from)
Do you like this article? Share It!
0 comments to "Healthcare-related stocks held up today. Some ideas for tomorrow."
Post a Comment