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April 06, 2023- The CCI indicator stands above +100
- Bollinger analysis indicates upper Band® is at $132.75
In the midst of a 10 day bullish trend, Today's session might suggest a slow down — Health Care Select Sector SPDR Fund trades at $133.33, after ending yesterday at $133.19.
Health Care Select Sector SPDR Fund hit a significant low of $119.89 around 9 months ago, but has since recovered 11.09%.
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Health Care Select Sector SPDR Fund's upper Bollinger Band® is at $132.75, suggesting that a downward move may follow.
Overall, while Health Care Select Sector SPDR Fund has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – highly important Initial Jobless Claims data from United States beat analyst expectations of 200,000 with a reading of 228,000.
While Health Care Select Sector SPDR Fund is pretty flat so far today, mixed performances are seen elsewhere as Costco falls 3.84% to trade around $478.04. Nike is down to $118.3, losing $2.6, after closing at $120.9 in the preceding trading session. Sanofi increases 1.77% to trade around $55.81.
Upcoming fundamentals: United States Non Farm Payrolls expected to decline to 239,000 while its preceding data was 311,000, data will be available tomorrow at 12:30 UTC.
