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Look for Shares of Ligand Pharm to Potentially Pullback after Yesterday's 2.79% Rise

By David Diaz

Ligand Pharm (NASDAQ:LGND) traded in a range yesterday that spanned from a low of $183.45 to a high of $190.54. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $186.73 on volume of 250,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Ligand Pharm share prices have moved between a 52-week high of $189.80 and a 52-week low of $87.50 and are now trading 117% above that low price at $189.80 per share. The 200-day and 50-day moving averages have moved 0.30% higher and 2.12% higher over the past week, respectively.

Keywords: rebounders ligand pharm

Ticker(s): LGND