You can zoom out on daily and look at weekly chart to see price is still near highs. My earlier chart on $XLV and $HUM suggested that this stock will drop when profits are taken from the healthcare sector, when there is a shift in market cycle. Indicators do not confirm a move back to 505 or lower in the short term, but I like the reward to risk in this trade design if RSI moves below 50 again and price drops back down. The red oval marks my stochastic %K sell sign, however price may move higher before lower.
Volume is low on this stock and very low on options, with wide bid/ask spread, so only buy at your limit and use less capital.
Volume is low on this stock and very low on options, with wide bid/ask spread, so only buy at your limit and use less capital.
