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Look for Shares of Portola Pharmace to Potentially Pullback after Yesterday's 1.97% Rise

By Shiri Gupta

Portola Pharmace (NYSE:PTLA) traded in a range yesterday that spanned from a low of $62.59 to a high of $64.15. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $63.93 on volume of 288,000 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, Portola Pharmace share prices have been bracketed by a low of $15.68 and a high of $64.15 and are now at $63.30, 304% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 1.9%.

SmarTrend recommended that subscribers consider buying shares of Portola Pharmace on June 23rd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.76. Since that recommendation, shares of Portola Pharmace have risen 30.7%. We continue to monitor PTLA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders portola pharmace

Ticker(s): PTLA