The health care sector ETF, peaked early this year and has been downtrending ever since.
The health care sector ETF, shown below, peaked early this year and has been downtrending ever since. In particular, it has made three unsuccessful attempts to push back resistance, represented by the magenta line I’ve drawn.
(Click on image to enlarge)
This seems like a very clean trade to me, with a tight stop (e.g. minimal risk) and plenty of potential downside.
(Click on image to enlarge)
This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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