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Recent 52-Week High Exceeded in Shares of Valeant Pharmaceuticals International (VRX)

By James Quinn

Shares of Valeant Pharmaceuticals International (NYSE:VRX) traded at a new 52-week high today of $228.18. So far today approximately 450,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

Valeant Pharmaceuticals International is a research-based, specialty pharmaceutical company that markets its products worldwide. The Company discovers, develops, manufactures, and markets a range of pharmaceutical products, focusing on products in the areas of infectious disease, neurology, and dermatology.

Valeant Pharmaceuticals International has overhead space with shares priced $227.64, or 4.6% below the average consensus analyst price target of $238.50. The stock should find initial support at its 50-day moving average (MA) of $207.35 and further support at its 200-day MA of $156.20.

Valeant Pharmaceuticals International share prices have moved between a 52-week high of $228.18 and a 52-week low of $106.00 and are now trading 115% above that low price at $227.64 per share. The 200-day and 50-day moving averages have moved 1.60% higher and 1.01% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Valeant Pharmaceuticals International on December 22nd, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $147.02. Since that recommendation, shares of Valeant Pharmaceuticals International have risen 52.8%. We continue to monitor VRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows valeant pharmaceuticals international

Ticker(s): VRX