Some healthcare names have been garnering plenty of respect lately. Plays in the mid and large cap space that we have profiled acting bullishly include BSX, which is now on an 8 week winning streak, its first since an 11 week run between April-June '16. More importantly it has CLOSED above a 30.03 long cup base trigger the last 2 sessions. VRX which will undergo a name change, is higher by 22% over the last 2 weeks as it builds the right side of a goos looking cup base pattern. Below we look at FATE, first how it appeared in our Thursday 4/5 Game Plan and then we take a current look.
Making a quick recapture of rising 50 day SMA very bullish. FATE is a healthcare play higher by 72% YTD and 148% over the last one year period. Earnings have been mixed with gains of .6 and 2.9% on 11/2 and 8/15 and losses of 5.2 and 1.2% on 3/6 and 5/16. The stock is on a current 4 week losing streak down by 30% in the process and this week is higher by 7.6% thus far (to be fair it went on a tear going from 4 to 14 the weeks ending between 12/15/17-3/2 so being 27% off most recent 52 week highs presents an opportunity. On its weekly chart it did hit a rough double top in the 13/14 area the weeks ending 3/28/14 and 3/9/18. Enter FATE on todays recoup of the very round 10 number here.
Trigger FATE here. Stop 9.10.
Taking a present look FATE is lower 9 of the last 11 weeks and is still 25% off most recent 52 week highs despite this weeks nearly 17% advance recording a bullish hammer on decent volume. The only other week to gain in the last 11 was a 24.3% screamer the week ending 4/13. It is certainly a volatile stock as it traded below 4 last December, but trade is beginning to firm up as it solidifies near the very round 10 number. The 9.10 stop on the original chart above was never taken out and explains why CLOSING stops are crucial as 5/14 was below intraday.
If we liked what you read why not visit www.chartsmarter.com.
Some healthcare names have been garnering plenty of respect lately. Plays in the mid and large cap space that we have profiled acting bullishly include BSX, which is now on an 8 week winning streak, its first since an 11 week run between April-June '16. More importantly it has CLOSED above a 30.03 long cup base trigger the last 2 sessions. VRX which will undergo a name change, is higher by 22% over the last 2 weeks as it builds the right side of a goos looking cup base pattern. Below we look at FATE, first how it appeared in our Thursday 4/5 Game Plan and then we take a current look.
Making a quick recapture of rising 50 day SMA very bullish. FATE is a healthcare play higher by 72% YTD and 148% over the last one year period. Earnings have been mixed with gains of .6 and 2.9% on 11/2 and 8/15 and losses of 5.2 and 1.2% on 3/6 and 5/16. The stock is on a current 4 week losing streak down by 30% in the process and this week is higher by 7.6% thus far (to be fair it went on a tear going from 4 to 14 the weeks ending between 12/15/17-3/2 so being 27% off most recent 52 week highs presents an opportunity. On its weekly chart it did hit a rough double top in the 13/14 area the weeks ending 3/28/14 and 3/9/18. Enter FATE on todays recoup of the very round 10 number here.
Trigger FATE here. Stop 9.10.
Taking a present look FATE is lower 9 of the last 11 weeks and is still 25% off most recent 52 week highs despite this weeks nearly 17% advance recording a bullish hammer on decent volume. The only other week to gain in the last 11 was a 24.3% screamer the week ending 4/13. It is certainly a volatile stock as it traded below 4 last December, but trade is beginning to firm up as it solidifies near the very round 10 number. The 9.10 stop on the original chart above was never taken out and explains why CLOSING stops are crucial as 5/14 was below intraday.
If we liked what you read why not visit www.chartsmarter.com.