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Bearish Moving Average Cross by Valeant Pharmaceuticals International (VRX)

By Amy Schwartz

Valeant Pharmaceuticals International (NYSE:VRX) shares have crossed bearishly below their 10-day moving average of $27.72 on a volume of 52.5 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and the current low of $22.52 and are currently at $23.27 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.2% while the 200-day MA has slid 3.3%.

SmarTrend is tracking the current trend status for Valeant Pharmaceuticals International and will alert subscribers who have VRX in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses valeant pharmaceuticals international

Ticker(s): VRX