(Premium) December Health Care Outlook

Health Care is one industry away from being a leader. Health Care providers are breaking out to new all-time highs after a 6-month consolidation.

Just by looking at UnitedHealth – the biggest name in the space – you’d never even know that stocks were in a bear market this year.

Pharmaceuticals are breaking out, too.

Check out Merck, who’s coming out of a 20-year base. It’s already halfway to its target near 135.

And Biotech stocks are completing an inverse head-and-shoulders reversal pattern that’s been developing for most of 2022. They could easily go and test the 2021 highs.

The problem in health care has been growth-oriented names in the space. Companies that design and make medical devices and other advanced testing equipment trade more like Tech stocks than Health Care. They led in the decade prior to COVID, but they’ve lagged since.

Now they’re looking to join the party. Boston Scientific is trying to break out above its pre-COVID highs at 46. If it does, we can target 60.

The post (Premium) December Health Care Outlook first appeared on Grindstone Intelligence.