Bearish Moving Average Cross by Valeant Pharmaceuticals International (VRX)
Today, shares of Valeant Pharmaceuticals International (NYSE:VRX) have fallen below their 10-day MA of $27.14 on a volume of 3.7 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Valeant Pharmaceuticals International have traded between a low of $18.55 and a high of $263.81 and are now at $26.90, which is 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 3.3% while the 50-day MA has declined 8.2%.
SmarTrend recommended that subscribers consider buying shares of Valeant Pharmaceuticals International on August 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.08. Since that recommendation, shares of Valeant Pharmaceuticals International have risen 6.3%. We continue to monitor VRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses valeant pharmaceuticals international