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After Yesterday's Rally of 3.43% Shares Could Potentially Pullback

By Amy Schwartz

Alkermes (NASDAQ:ALKS) traded in a range yesterday that spanned from a low of $44.17 to a high of $46.13. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $44.56 on volume of 573,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Alkermes share prices have been bracketed by a low of $27.14 and a high of $80.71 and are now at $45.63, 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 1.1%.

SmarTrend recommended that subscribers consider buying shares of Alkermes on April 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.32. Since that recommendation, shares of Alkermes have risen 18.7%. We continue to monitor ALKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Alkermes

Ticker(s): ALKS