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After Yesterday's Rally of 2.77% Shares Could Potentially Pullback

By Shiri Gupta

BioMarin Pharmaceutical (NASDAQ:BMRN) traded in a range yesterday that spanned from a low of $87.53 to a high of $90.13. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $88.95 on volume of 616,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in BioMarin Pharmaceutical. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of BioMarin Pharmaceutical in search of a potential trend change.

BioMarin Pharmaceutical share prices have moved between a 52-week high of $151.75 and a 52-week low of $62.12 and are now trading 45% above that low price at $89.77 per share. 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%.

Keywords: rebounders biomarin pharmaceutical

Ticker(s): BMRN