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Look for Shares of Allergan Plc to Potentially Pullback after Yesterday's 1.14% Rise

By Shiri Gupta

Allergan Plc (NYSE:AGN) traded in a range yesterday that spanned from a low of $246.24 to a high of $248.95. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $247.28 on volume of 713,000 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, Allergan Plc has traded in a range of $184.50 to $261.27 and is now at $248.54, 35% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 0.7%.

SmarTrend recommended that subscribers consider buying shares of Allergan Plc on June 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $233.80. Since that recommendation, shares of Allergan Plc have risen 5.2%. We continue to monitor AGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders allergan plc

Ticker(s): AGN