Pharma ETF that's gone nowhere for 9 years forming 'monstrous bullish pattern,' according to the charts

Frank Cappelleri breaks down the trade on the iShares U.S. Pharmaceuticals ETF.

The iShares U.S. Pharmaceuticals ETF is up 9% since July 2015, when it hit a fresh all-time high. That's a 9% gain in nine years. The S & P 500 is up more than 155% over the same time period. Few people talk about IHE, especially with so many other popular growth ETFs doing so well. We can understand why: IHE actually first surpassed that 2015 high in early 2021, but a long and volatile trading range resulted, which the ETF just broke above earlier this year.

on the other hand, bottomed in March 2023, and just recently broke out of a large inverse head & shoulders pattern. Over the last six months, it has been trying to construct a second bullish formation. If that can be completed, the upside objective would be near the 2022 highs around the $21-level. -Frank Cappelleri Founder: https://cappthesis.

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Markets Exchange-Traded Funds Ishares U.S. Pharmaceuticals ETF Eli Lilly And Co Johnson & Johnson Merck & Co Inc Innoviva Inc Business News

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