SmarTrend Watching for Potential Pullback in Shares of Valeant Pharmaceuticals International After 5.77% Gain
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $27.25 to a high of $29.43. Yesterday, the shares gained 5.8%, which took the trading range above the 3-day high of $27.23 on volume of 34.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and a 52-week low of $23.55 and are now trading 22% above that low price at $28.79 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.2% while the 200-day MA has slid 3.3%.
SmarTrend is monitoring the recent change of momentum in Valeant Pharmaceuticals International. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Valeant Pharmaceuticals International in search of a potential trend change.
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