Bearish Seagen dips below key support at $169.83 but bounces back $2.78 later in the session

• Nearest support line of $169.83 is only $2.78 away

Seagen has lost 4.79% over the last 6 days. Friday's session continued down the same path: the cancer therapies development company has recovered almost all of its session losses after dipping down to $169.13 Friday.

The stock has been trending positively for about 3 months. 9 days ago the cancer therapies development company reached a significant high of $181.29 but has consequently lost 4.22% since then.

Chart analysis indicates although Seattle Genetics Inc is pointing down today (was as low as $169.13), it's climbing away from the $169.83 support line and is now $2.78 above it.

Seagen was not the only decliner in the health care sector; Medtronic went down to $76.72, losing 1.64% after it closed at $78 Friday. Thermo Fisher Scientific withdraws 1.7% Friday to close at $553.21.

On the other hand, positive performances could be seen by looking at other health care stocks as AbbVie gained 1.6%, as it traded at $149.71.