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After Yesterday's Rally of 1.82% Shares Could Potentially Pullback

By James Quinn

Ligand Pharm (NASDAQ:LGND) traded in a range yesterday that spanned from a low of $177.00 to a high of $181.40. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $177.78 on volume of 229,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Ligand Pharm on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $157.46. Since that recommendation, shares of Ligand Pharm have risen 11.8%. We continue to monitor LGND for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Ligand Pharm share prices have been bracketed by a low of $87.50 and a high of $181.40 and are now at $179.83, 106% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.1%.

Keywords: rebounders ligand pharm

Ticker(s): LGND