Catalent is an interesting company because it managed to get added to the S&P 500 before Tesla in early September. It also traces its history back to the creation of soft-gel pills in the early 1930s.
CTLT has trended higher most of the year, fueled by strong results. The stock rallied after its last earnings report on November 3, and has now retraced most of that move.
The pullback has brought the shares back to the $95 area where they peaked in October and the 50-day simple moving average.
It also dragged stochastics down to an oversold condition, but they're now rebounding.
Market sentiment may favor CTLT because biotechnology stocks have gained strength in the last two weeks. There are additionally signs that the “reopening trade” (energy/industrials/financials) is getting tired – especially as Covid cases rebound. That could make investors more interested in a non-cyclical healthcare play like CTLT.
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CTLT has trended higher most of the year, fueled by strong results. The stock rallied after its last earnings report on November 3, and has now retraced most of that move.
The pullback has brought the shares back to the $95 area where they peaked in October and the 50-day simple moving average.
It also dragged stochastics down to an oversold condition, but they're now rebounding.
Market sentiment may favor CTLT because biotechnology stocks have gained strength in the last two weeks. There are additionally signs that the “reopening trade” (energy/industrials/financials) is getting tired – especially as Covid cases rebound. That could make investors more interested in a non-cyclical healthcare play like CTLT.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.