BALTIMORE (Stockpickr) -- Health care stocks are looking, well, healthy right now. And that's creating some big trading opportunities this month.
As a sector, health care has been one of the best-performing corners of the market in 2014. While the S&P 500 Index has pushed 1.47% higher since the calendar flipped to January, health care stocks have managed an average rally of 6% over the same period -- and that's just the "average" health care gain. Some individual names are up much further year-to-date.
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Don't worry if you've missed the moves in this sector; they're far from over. From a statistical standpoint, the relative strength we're seeing in health stocks is typically tied to continued outperformance for as much as ten months. From here, a look at the price action can help pinpoint which stocks to focus on in March.
So which health care names look best-positioned for big moves? Today, we're taking a technical look at five of them.
For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.
Without further ado, let's take a look at five technical setups worth trading now.