5 Trades to Take From the Health Care Sector
BALTIMORE (Stockpickr) -- While Congress battles it out over Obamacare on Capitol Hill, tradable setups are popping up in health care stocks.
At the end of the day, all of the shenanigans that caused the government shutdown can be traced back to health care. But while most investors remain fixated on the headlines, some big trades are beginning to play out in that very sector. That shouldn't come as a huge surprise: With the broad market coming down to test its key long-term support level this month, we're reaching an area that's been a buying opportunity every time since last November.
So, if stocks bounce from here, then investors should expect a very good time to be long. That's why, today, we're taking a look at five tradable technical setups in the health care sector.
For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.
So, without further ado, let's take a look at five technical setups worth trading now.