In a recent report, analysts at Oppenheimer took a technical look at the market and chose some of their favorite stocks in different sectors based on what they see in the charts. Analysts like what they see in the healthcare space, and five charts stood out to them as particularly bullish.
Health Care Select Sector SPDR ETF XLV 0.58%
The Health Care sector as a whole has been on quite a run lately, and the XLV ETF has broken out to all-time highs versus the S&P 500. The ETF has been trading in a tight upward channel since early 2011, and the previous all-time high level from 2009 offered very little resistance this time around. Analysts like that the breakout happened on the strength of a wide range of industries and market caps within the healthcare sector.
UnitedHealth Group Inc. UNH 0.67%
Analysts like that UnitedHealth is trading near its all-time high relative to the strong healthcare sector. The stock has also formed a wide, solid base versus the sector since mid-2012. Analysts believe the stock may now be poised for a breakout.
Medtronic Plc MDT 0.06%
Medtronic stock has majorly lagged the healthcare sector going all the way back to 2008. Since mid-2011, however, the stock has been forming a wide base. Analysts now believe the stock has plenty of catch-up to do versus the sector.
Jazz Pharmaceuticals Public Limited Co JAZZ 0.41%
Jazz has been forming a flag pattern versus the healthcare sector for over a year now, and analysts believe a breakout could be imminent.
Boston Scientific Corporation BSX 0.28%
Boston Scientific has been forming a wide base versus the rest of the healthcare sector over the past five years, and analysts predict the stock is now poised to outperform the sector.
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