Last time at same level, Px was 397.58 where an open gap remains. It's possible we see some more weakness before the rotation. $234.96 would provide a secondary test to take out the low and S2 + 1.272 fib ext.
Some divergences in momentum, but can argue in a triangle. Regardless, ATR is relatively low and if you look at past precedent, these lows have been accompanied by a move higher.
Px is below developing and top end is $374 Lots of gaps open above at some key fib levels.
I have no position, but watching closely. ( Only bio exposure is VRX in full disclosure)