This morning we entered another bullish trend trade in the XLV (healthcare). ALXN (Alexion Pharmaceuticals) on an Oversold Buy Signal. The stock recently rallied sharply after earnings and has pulled back to the 21 day EMA while at the same time entering Oversold territory on the Overbought / Oversold oscillator. As mentioned earlier, ALXN belongs to a strong industry group, strong technicals, very strong relative strength vs the SPY and a Very Bullish Chaikin Power Gauge. Fundamentals drive the Chaikin Power Gauge, most are very bullish. Including very strong expert opinions and estimate revisions.
We position sized for our account and set our stop loss at 165.42. Follow all of our trades here.
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