SmarTrend Watching for Potential Pullback in Shares of Valeant Pharmaceuticals International After 9.87% Gain
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $19.61 to a high of $21.93. Yesterday, the shares gained 9.9%, which took the trading range above the 3-day high of $21.65 on volume of 20.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Valeant Pharmaceuticals International on May 9th, 2016 by issuing a Downtrend alert when the shares were trading at $29.49. Since that call, shares of Valeant Pharmaceuticals International have fallen 32.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and a 52-week low of $18.55 and are now trading 17% above that low price at $21.67 per share. Over the last five market days, the 200-day moving average (MA) has gone down 3.3% while the 50-day MA has declined 8.2%.
Keywords: rebounders valeant pharmaceuticals international