STJ is showing significant strength right now
Based on the analysis above in STJ, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that STJ is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on STJ with the overall market so you are fighting the crowd.
Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward STJ. Also, the price action in STJ has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.
St. Jude Medical (STJ)
St. Jude Medical, Inc. is focused on the development, manufacture and distribution of cardiovascular medical devices for the global cardiac rhythm management, cardiovascular and atrial fibrillation therapy areas, and interventional pain therapy and neurostimulation devices for the management of chronic pain and movement disorders. The Company’s product categories include tachycardia implantable cardioverter defibrillator systems; atrial fibrillation products (electrophysiology introducers and catheters, advanced cardiac mapping, navigation and recording systems and ablation systems); bradycardia pacemaker systems; vascular products (vascular closure products, pressure measurement guidewires, optical coherence tomography imaging products, vascular plugs, heart failure monitoring devices and other vascular accessories); structural heart products (heart valve replacement and repair products and structural heart defect devices); neuromodulation products, and Thoratec products.