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Look for Shares of Mallinckrodt to Potentially Pullback after Yesterday's 2.56% Rise

By James Quinn

Mallinckrodt (NYSE:MNK) traded in a range yesterday that spanned from a low of $44.50 to a high of $46.12. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $45.02 on volume of 714,000 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, Mallinckrodt share prices have been bracketed by a low of $38.80 and a high of $85.83 and are now at $45.70, 18% above that low price. The 200-day and 50-day moving averages have moved 1.67% lower and 0.39% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Mallinckrodt and will alert subscribers who have MNK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders mallinckrodt

Ticker(s): MNK