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After Yesterday's Rally of 5.91% Shares Could Potentially Pullback

By Nick Russo

Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $12.99 to a high of $13.63. Yesterday, the shares gained 5.9%, which took the trading range above the 3-day high of $12.79 on volume of 16.5 million 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, shares of Valeant Pharmaceuticals International have traded between a low of $8.31 and a high of $263.81 and are now at $13.40, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.2% while the 200-day MA has slid 3.3%.

SmarTrend recommended that subscribers consider buying shares of Valeant Pharmaceuticals International on May 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.50. Since that recommendation, shares of Valeant Pharmaceuticals International have risen 10.1%. We continue to monitor VRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders valeant pharmaceuticals international

Ticker(s): VRX