Look for Shares of Valeant Pharmaceuticals International to Potentially Rebound after Yesterday's 6.41% Sell Off
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $32.46 to a high of $37.22. Yesterday, the shares fell 6.4%, which took the trading range below the 3-day low of $34.51 on volume of 20.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend is tracking the current trend status for Valeant Pharmaceuticals International and will alert subscribers who have VRX in their portfolio or watchlist when shares have changed trend direction.
Over the past year, Valeant Pharmaceuticals International has traded in a range of $25.27 to $263.81 and is now at $33.02, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 3% while the 50-day MA has declined 8.5%.
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