Look for Shares of Valeant Pharmaceuticals International to Potentially Rebound after Yesterday's 6.15% Sell Off
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $20.67 to a high of $22.15. Yesterday, the shares fell 6.2%, which took the trading range below the 3-day low of $21.58 on volume of 12.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that its subscribers protect gains by selling shares of Valeant Pharmaceuticals International on September 30th, 2016 by issuing a Downtrend alert when the shares were trading at $25.04. Since that call, shares of Valeant Pharmaceuticals International have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, Valeant Pharmaceuticals International share prices have been bracketed by a low of $18.55 and a high of $263.81 and are now at $20.71, 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 3.3% while the 50-day MA has declined 8.2%.
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