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Akorn Inc Set to Possibly Rebound After Yesterday's Selloff of 11.38%

By Shiri Gupta

Akorn Inc (NASDAQ:AKRX) traded in a range yesterday that spanned from a low of $1.22 to a high of $1.33. Yesterday, the shares fell 11.4%, which took the trading range below the 3-day low of $1.42 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, Akorn Inc share prices have been bracketed by a low of $1.19 and a high of $5.46 and are now at $1.28, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 6.4% while the 200-day MA has slid 0.6%.

Keywords: rebounders akorn inc

Ticker(s): AKRX