On April 21 I asked… Time for Pharma to Out Perform?
Man stares at the daily chart of PPH and gets geeked out on the pattern that has formed within a gentle uptrend. As long as it holds the SMA 50 man thinks it is prospective. Man also likes the positive RSI and MACD. Finally, man is also aware of the market’s various and ongoing rotations which, very lately, appear to be benefiting the relative value of big Pharma.
The answer turned out to be no, not really. It was not time for Pharma to out perform. It’s been about even with the broad market since then.
Man ended up using a little thing called patience and is finally getting a break today that is the extension of the bullish pattern originally noted. I understand it’s the go-go 20s (hmmm, there was a go-go 20s a century ago too) but sometimes ya gotta sit on your ass and wait.
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