The $800B+ health care overhaul plan was approved by the Senate today" clearing the way for a full Senate debate over the broadest expansion of the government’s role in the medical system since the creation of Medicare in 1965".
As a consequence, health-related companies tumbled. Some reports already say that the effects on these companies may be exagerated. Here are the RSIs of the health-related companies, ordered by RSI-A (average of RSIs). The top table represents calculations based on prices at EOD October 13. The lower table is for prices at EOD October 12. We had preliminarily reported yesterday, today you can see the difference one day makes.
The most oversold companies are still AET and CVH, but in reversed order now (but very close), while CVG is still relatively overbought.
AET and CVH are thus, the most likely to bounce the most most back.
Here are the names of the companies corresponding to the symbols above:
AET, Aetna Inc.
CVH, Coventry Health Care, Inc.
UNH, UnitedHealth Group Inc.
CI, CIGNA Corporation
HUM, Humana Inc.
WCG, WellCare Health Plans, Inc.
To receive technical analysis and real-time alerts of these Health sector stocks by entering the symbols in the Technical Trend Analysis Tool, (powered by INO).
These are not recommendations, please do your own due dilligence.
[UPDATED OCTOBER 14]