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Look for Shares of Portola Pharmace to Potentially Rebound after Yesterday's 4.12% Sell Off

By Nick Russo

Portola Pharmace (NASDAQ:PTLA) traded in a range yesterday that spanned from a low of $41.12 to a high of $43.33. Yesterday, the shares fell 4.1%, which took the trading range below the 3-day low of $42.08 on volume of 780,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Portola Pharmace share prices have moved between a 52-week high of $67.10 and a 52-week low of $30.10 and are now trading 37% above that low price at $41.25 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.8%.

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

Keywords: rebounders portola pharmace

Ticker(s): PTLA