Getting Defensive

07/02/2009 10:28 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

Health care stocks were higher on Wednesday, with XLV trading above the recent highs, but the 50- and 200-day MAs are still negative. XLB, the materials sector ETF, closed on its lows after testing its 50-day MA. It violated short-term support in mid-June amid heavy volume, creating strong resistance in the $27 area. Support is now at $24.

Related Articles on STOCKS

Keyword Image
Conoco: A Breakout in Energy
09/21/2018 5:00 am EST

Our daily breakout stock ideas are most suitable for aggressive investors seeking ideal entry points...