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May 01, 2023- Health Care Select Sector SPDR Fund could slow down as it approaches resistance at $134.28
- Health Care Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $132.73, a potential indicator of a newly emerging bullish phase.
Health Care Select Sector SPDR Fund is on a 3 day bullish run gaining 69 cents (1.38%). Health Care Select Sector SPDR Fund stayed on track Friday: a bright session dominated by bullish sentiment helped XLV to close $1.13 higher, while setting a $132.03 to $133.91 session range.
The fund has been trending positively for about a month. Health Care Select Sector SPDR Fund is now trading 5.5% below the significant high of $140.1 it set around 4 months ago.
Health Care Select Sector SPDR Fund made an initial breakout above its 21 day Simple Moving Average at $132.73, a potential indicator of a newly emerging bullish phase. Despite this, Health Care Select Sector SPDR Fund could be slowing down soon as it approaches resistance at $134.28. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Health Care Select Sector SPDR Fund might continue pointing upwards in the short term.
Other markets are also showing gains as Mondelez International is trading around $76.72 after ending Friday's session at $73.82 (up 3.93% today).
At the same time, after ending Friday's session at $56.09, Sanofi lost $2.44 and is trading around $53.65. Sony Group Corporation lost 5.7% Friday and closed at $95.09.
Upcoming fundamentals: United States JOLTs Job Openings (Mar) will be released tomorrow at 14:00 UTC.
