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Look for Shares of Portola Pharmace to Potentially Rebound after Yesterday's 7.47% Sell Off

By Nick Russo

Portola Pharmace (NYSE:PTLA) traded in a range yesterday that spanned from a low of $57.74 to a high of $62.50. Yesterday, the shares fell 7.5%, which took the trading range below the 3-day low of $59.59 on volume of 616,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Portola Pharmace share prices have been bracketed by a low of $15.68 and a high of $67.10 and are now at $58.90, 276% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 1.9%.

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

Keywords: rebounders portola pharmace

Ticker(s): PTLA