Latest Breaking News On - Medical bull - Page 1 : comparemela.com

These three pharmaceutical ETFs have dropped to support, which means they may be about to rebound. Support is a large concentration of buyers who have gathered around the same price level. At support levels, there is more demand for the stock than there is supply. Downtrends end when they reach support levels. Many times, stocks rally off of support levels. This happens when some of the buyers become more aggressive. They don’t want the other buyers to get ahead of them in line. They decide to pay higher prices. This forces the stock into rally mode. The SPDR S&P Pharmaceuticals ETF (NYSE:XPH) has dropped to the $47.85 level. This level was support in November and December. It was the base for a large move higher into January. It could happen again.

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