HEALTHCARE ETFS THAT COVER HEALTHCARE PROVIDERS AND MEDICAL DEVICES AND EQUIPMENT GAIN GROUND -- MEDTRONIC SURGES TO NEW RECORD -- HEALTHCARE SPDR EXCEEDS APRIL HIGH -- ABBVIE SCORES BULLISH BREAKOUT
U.S. HEALTHCARE PROVIDERS ISHARES ... In my message posted earlier today, I showed a number of healthcare providers that are having a strong day, including Aetna (AET), Centene (CNC), Humana (HUM), and Unitedhealth Group (UNH). I want to point out here that an ETF is available to cover that group entire group. Chart 1 shows the U.S. Healthcare Providers iShares (IHF). It looks very much like the group index I showed this morning. And it looks like it's moving higher. That makes it a leader in a strengthening healthcare sector.
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Chart 1
U.S. MEDICAL DEVICES ISHARES... Previous messages have shown a number of leading stocks in the medical devices and equipment area which is another leader in the healthcare group, including Boston Scientific (BSX), Thermo Fisher Scientific (TMO), and Zimmer Biomet Holdings (ZBH). Fortunately, there's a ETF covering that group as well. Chart 2 shows U.S. Medical Devices iShares (IHI) hitting a record high. That's also having a bullish impact on the entire healthcare sector.
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Chart 2
MEDTRONIC TAKES OFF... The biggest stock in the IHI in Chart 2 is having a great day. Chart 3 shows Medtronic (MDT) surging nearly 3% to new record high. The stock is one of the biggest gainers in a strong healthcare sector. Charts in those two leading groups (both collectively and individually) show that there's a lot to like in the healthcare sector besides biotech and pharmaceuticals.
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Chart 3
HEALTH CARE SPDR CLEARS APRIL HIGH ... This morning's message showed the Health Care SPDR (XLV) nearing a test of its April high. Chart 4 shows the XLV clearing that previous high in afternoon trading. Three of its biggest percentage gainers are Aetna (AET), Humana (HUM), and Medtronic (MDT). AbbVie is also scoring a bullish breakout.
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Chart 4
ABBVIE BREAKS OUT... The final chart in yesterday's message showed AbbVie (ABBV) testing overhead resistance along its November/April highs. Chart 5 shows the stock achieving a bullish breakout this afternoon. That's giving a boost to the biotech group.
