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After Yesterday's Rally of 1.24% Shares Could Potentially Pullback

By Amy Schwartz

Horizon Pharma P (NYSE:HZNP) traded in a range yesterday that spanned from a low of $15.31 to a high of $15.74. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $15.44 on volume of 826,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Horizon Pharma P has traded in a range of $9.45 to $23.44 and is now at $15.54, 64% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.7% while the 200-day MA has slid 2.1%.

SmarTrend recommended that subscribers consider buying shares of Horizon Pharma P on July 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.73. Since that recommendation, shares of Horizon Pharma P have risen 20.7%. We continue to monitor HZNP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders horizon pharma p

Ticker(s): HZNP