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Bullish Moving Average Cross by Valeant Pharmaceuticals International (VRX)

By Nick Russo

Today, shares of Valeant Pharmaceuticals International (NYSE:VRX) have crossed bullishly above their 10-day moving average of $22.06 on a volume of 16.6 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and a 52-week low of $18.55 and are now trading 21% above that low price at $22.39 per share. 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 26.7%. 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

Ticker(s): VRX