Invesco S&P SmallCap Health Care ETF Could Set a New High At $182

The healthcare sector has had an impressive year, with the stocks and exchange-traded funds (ETFs) in this industry recording gains.

PSCH Rallies Past the $180 Mark

Invesco S&P SmallCap Health Care ETF has recorded decent gains over the past 12 months and could end the year trading above the $180 mark. It is a passively managed exchange-traded fund that has been around since 2010.

PSCH is sponsored by investment firm Invesco, and it currently has more than $480 million in assets under management, making it one of the average-sized ETFs attempting to match the performance of the Healthcare – Broad segment of the United States market. Before fees and expenses, the fund seeks to match the performance of the S&P SmallCap 600 Capped Health Care Index.

This index measures the overall performance of common stocks in the healthcare industry. Over the past 12 months, PSCH has added more than 6% to its value, making it one of the average performers in the market. The annual operating expenses for PSCH are 0.29%, making it one of the least expensive products in the space.

PSCH Could Rally Towards $182

The PSCH/USD chart is looking bullish thanks to the ETF’s performance over the past 24 hours. The fund’s technical indicators show that it is recovering from its recent slump. If the ETF can maintain its momentum, it could rally towards the $182 level soon.

The MACD line is about to cross into the positive territory, indicating strong buying pressure from the market. The RSI of 57 also shows that the ETF could soon head into the overbought region. If the current rally can be sustained, then PSCH could break past its first major resistance level at $182 over the next few hours.

In the event of an extended rally, PSCH would likely recover its position above the $185 psychological mark over the next few trading sessions.