Valeant Rips Through Health-Care Sector

Published 03/16/2016, 03:59 PM
Updated 07/09/2023, 06:31 AM
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Sympathetic selling pressure spawned by the Valeant Pharmaceuticals (NYSE:VRX) debacle has negatively impacted the entire health-care sector, which has pressed from its recent high at 68.55 (print basis) into the 67.00 key, near-term support zone.

A new reaction low print of 66.75 will trigger a near-term sell signal that will project Health Care Select Sector SPDR (NYSE:XLV) into the 65.25-65.00 area.

That's said, I'm keeping my protective stop at 66.75 intraday in our Model.

Health Care Select Sector SPDR ETF

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