July 11, 2022, 2:02 pm EDT
The Healthcare sector belongs to the defensive sector which could rise up during a bear market. Healthcare insurance providers are also necessary regardless of the market conditions. Actually, they perform very well recently and most other stocks suffered significantly in 2022.
For example, we can see the names Unitedhealth Group Inc (UNH), Humana Inc (HUM), and Cigna Corp (CI) are near all-time high areas that are above all trend lines (20, 50, 200 day-moving-average).
Checking out the chart for Humana Inc (HUM) we can easily spot the strength from a technical perspective. If bears keep attacking the stock market as we think it is going to happen for the earning seasons, high inflation environment, and rising rates period, HUM could be a choice to defend against the downtrend. The share price could rise because fund managers allocate their investment from risky assets to defensive types of stocks like HUM.