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After Yesterday's Decline of 1.09%, Perrigo Offers Investors Better Value

By Shiri Gupta

Perrigo (NASDAQ:PRGO) traded in a range yesterday that spanned from a low of $68.53 to a high of $69.80. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $68.90 on volume of 882,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Perrigo share prices have been bracketed by a current low of $68.53 and a high of $200.96 and are now at $68.71. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has slid 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Perrigo on February 28th, 2017 by issuing a Downtrend alert when the shares were trading at $74.65. Since that call, shares of Perrigo have fallen 6.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Perrigo

Ticker(s): PRGO