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After Yesterday's Rally of 5.96% Shares Could Potentially Pullback

By Shiri Gupta

Akorn Inc (NASDAQ:AKRX) traded in a range yesterday that spanned from a low of $13.58 to a high of $14.88. Yesterday, the shares gained 6.0%, which took the trading range above the 3-day high of $13.97 on volume of 4.8 million 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, Akorn Inc has traded in a range of $12.40 to $35.40 and is now at $14.08, 14% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Akorn Inc on February 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $30.24. Since that call, shares of Akorn Inc have fallen 55.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders akorn inc

Ticker(s): AKRX