- Health Care Select Sector SPDR Fund breaks 6 cents below established support around $136.18
- Health Care Select Sector SPDR Fund's upper Bollinger Band® is at $137.28 which indicates a further downward move may follow.
Though in the midst of a 6 day uptrend, gaining a total of 2.38%, ($4.19), Yesterday's session suggests run might be coming to an end — Health Care Select Sector SPDR Fund slid down from $137.15 to $136.12, taking a $1.03 loss (0.75%)
The fund has been trending positively for about a month. Health Care Select Sector SPDR Fund now trading 8.5% above its 3-month low of $119.89.
Health Care Select Sector SPDR Fund made an initial break below its 3 day Simple Moving Average at $136.48, a possible indication of a forthcoming negative trend. Health Care Select Sector SPDR Fund's upper Bollinger Band® is at $137.28 which indicates a further downward move may follow. Health Care Select Sector SPDR Fund could begin to recover as it approaches significant support, now 6 cents away from $136.18. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Health Care Select Sector SPDR Fund.
Fundamental indicators – United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300.
In the meantime, negative performances are also seen in other markets, Medtronic is down to $76.13, losing $3, after ending the previous session around $79.12. ProLogis is down to $111.46, losing $4.93, after ending the previous session around $116.39. Walt Disney lost 3.22% yesterday and closed at $98.87.
Upcoming fundamentals: United States Pending Home Sales is projected to outperform its last figure with -5%. It previously stood at -10.2%; data will be released tomorrow at 15:00 UTC.