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Look for Shares of Portola Pharmace to Potentially Pullback after Yesterday's 25.71% Rise

By Amy Schwartz

Portola Pharmace (NASDAQ:PTLA) traded in a range yesterday that spanned from a low of $22.60 to a high of $25.00. Yesterday, the shares gained 25.7%, which took the trading range above the 3-day high of $19.95 on volume of 3.2 million 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, Portola Pharmace has traded in a range of $18.18 to $56.70 and is now at $24.28, 34% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 2.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Portola Pharmace on July 31st, 2018 by issuing a Downtrend alert when the shares were trading at $35.40. Since that call, shares of Portola Pharmace have fallen 46.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders portola pharmace

Ticker(s): PTLA