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After Yesterday's Rally of 1.30% Shares Could Potentially Pullback

By James Quinn

Biomarin Pharmac (NASDAQ:BMRN) traded in a range yesterday that spanned from a low of $87.52 to a high of $89.03. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $88.60 on volume of 333,000 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, Biomarin Pharmac has traded in a range of $73.45 to $102.49 and is now at $88.97, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.2%.

SmarTrend is tracking the current trend status for Biomarin Pharmac and will alert subscribers who have BMRN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders biomarin pharmac

Ticker(s): BMRN