Health Services 2023-12-18: UNCHANGED at AVERAGE strength rating (5th strongest of 9 levels), previous move was UP
Health Services happenings? 4/8 sub-industries strengthened, 81% stocks positive, GKOS/VRDN/CYH +26%/25%/22%, LNTH -28%.
Full details at downloadable file linked below.
What are you seeing here and why do you care? Partial listing:
🔹 An objective measurement of industry strengthening and weakening so you can objectively compare strength and weakness across/within industries and sub-industries.
🔹 A listing of stocks rated Strongest and Weakest (highest/lowest strength of 9 levels) by sub-industry, saving you significant time finding stocks that may be prone to making bigger moves faster. Stronger stocks have less overhead resistance, Weaker stocks are prone to “pops” from bargain hunting and short-covering yet due to preceding weakness are also prone to falling far and fast.
Background
Largest of 8 sub-industries (135 stocks, average 17):
- Medical Appliances & Equipment (46 stocks)
- Medical Instruments & Supplies (38 stocks)
- Medical Laboratories & Research (15 stocks)
- Specialized Health Services (14 stocks)
Top market cap stocks: UNH/UnitedHealth Group Inc., TMO/Thermo Fisher Scientific Inc, ABT/Abbott Laboratories, SYK/Stryker Corp, MDT/Medtronic PLC, ELV/Elevance Health Inc., ISRG/Intuitive Surgical Inc, CI/Cigna Corp, BSX/Boston Scientific Corp, BDX/Becton Dickinson & Co.
Details
🔹 18% Strongest Stocks, 9% Weakest Stocks.
🔹 Mixed/WEAKENING 1 Week vs. Mid- and Longer-Term // 1 week positive/negative stocks ratio is LOWER than 4 weeks but HIGHER than 3 Months (81%/85%/55% positive)
🔹 Sub-industry Overview:
STRONGEST at Strongest rating/1st strongest of 9 levels:
- Long-Term Care Facilities (3 stocks)
WEAKEST at Average rating/5th strongest of 9 levels:
- Medical Appliances & Equipment (46 stocks)
- Medical Instruments & Supplies (38 stocks)
- Specialized Health Services (14 stocks)
🔹 Lookback Periods Comparison:
3 Months: 15% stocks >+20% and 10% stocks <-20%.
___UP most:
PLSE +122% (Med Instrmts)
NEO +42% (Med Lab/Rsrch)
NHC +39% (LT Care Facil)
BKD +38% (LT Care Facil)
OSUR +36% (Med Instrmts)
___DOWN most:
CUTR -70% (Med Appl/Eqp)
ESTA -56% (Med Appl/Eqp)
APYX -42% (Med Instrmts)
XAIR -40% (Med Appl/Eqp)
SILK -39% (Med Appl/Eqp)
4 weeks: 34% stocks >+10% and 2% stocks <-10%.
___UP most:
PLSE +56% (Med Instrmts)
TNDM +53% (Med Appl/Eqp)
NVRO +31% (Med Instrmts)
INSP +31% (Med Appl/Eqp)
VRDN +30% (Med Lab/Rsrch)
___DOWN most:
PROF -21% (Med Appl/Eqp)
LNTH -20% (Med Lab/Rsrch)
ATRC -16% (Med Instrmts)
AGTI -9% (Spclz Hlth Svc)
HUM -8% (HCare Plans)
1 Week: 16% stocks >+10% and 1% stocks <-10%.
___UP most:
GKOS +26% (Med Instrmts)
VRDN +25% (Med Lab/Rsrch)
CYH +22% (Hospitals)
ALGN +20% (Med Appl/Eqp)
TNDM +19% (Med Appl/Eqp)
___DOWN most:
LNTH -23% (Med Lab/Rsrch)
PROF -10% (Med Appl/Eqp)
AXGN -5% (Med Appl/Eqp)
MD -5% (Spclz Hlth Svc)
JYNT -5% (Spclz Hlth Svc)