Moving averages of XLV
In this part, we’ll see the moving averages of the holdings of the Health Care Select Sector SPDR ETF (XLV). As of November 24, 2015, 71% of XLV’s holdings were trading above the 20-day moving average, 66% were trading above the 50-day moving average, and 43% were trading above the 100-day moving average.
The above graph reflects several moving averages of XLV holdings. Of the 56 holdings, 40 stocks were trading above the 20-day moving average, 37 were trading above the 50-day moving average, and 24 were trading above the 100-day moving average as of November 24.
European Commission approves Amgen’s BLINCYTO
Amgen (AMGN) rose 0.2% on November 24, 2015. According to a press release that day, AMGN announced that “the European Commission ([or] EC) has granted conditional marketing authorization for BLINCYTO® (blinatumomab) for the treatment of adults with Philadelphia chromosome-negative ([or] Ph-) relapsed or refractory B-precursor acute lymphoblastic leukemia ([or] ALL).
The press release went on to say, “Approval from the EC grants a centralized conditional marketing authorization with unified labeling in the 28 countries that are members of the EU. Norway, Iceland and Liechtenstein, as members of the European Economic Area (EEA), will take corresponding decisions on the basis of the decision of the EC. Conditional license requires the license to be renewed every year and it will be converted to full standard license once post-licensing commitments have been fulfilled.”
BLINCYTO was granted orphan drug designation by the European Medicines Agency in 2009 for the treatment of ALL.
AMGN closed at $162.78 and was trading above the 50-day and 100-day moving averages. Other stocks that were trading above the 100-day moving averages were Regeneron Pharmaceuticals (REGN), Vertex Pharmaceuticals (VRTX), and Alexion Pharmaceuticals (ALXN).