Bullish Moving Average Cross by Valeant Pharmaceuticals International (VRX)
Valeant Pharmaceuticals International (NYSE:VRX) crossed over its 10-day moving average of $20.90 on a volume of 9.4 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, Valeant Pharmaceuticals International share prices have been bracketed by a low of $18.55 and a high of $263.81 and are now at $21.53, 16% above that low price. The 200-day and 50-day moving averages have moved 3.27% lower and 8.22% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Valeant Pharmaceuticals International on May 9th, 2016 by issuing a Downtrend alert when the shares were trading at $29.49. Since that call, shares of Valeant Pharmaceuticals International have fallen 31.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses valeant pharmaceuticals international