VHT - Retests Former Support
The Vanguard Health ETF hit a well-established level of former support (current resistance). Fibonacci levels also indicate a level of resistance around $249. The temporary upwards move looks like a kickback, a retest of that former support, and the stock will likely begin to move lower in coming weeks. Place a stop loss at $250 - this trade counts on a rejection off resistance; anything above $250 will suggest a breakout past resistance. PT#1 is $234 and PT#2 is $226, both levels where support is likely to come in.
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