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SmarTrend Watching for Potential Rebound in Shares of Biomarin Pharmac After 2.41% Loss

By Nick Russo

Biomarin Pharmac (NASDAQ:BMRN) traded in a range yesterday that spanned from a low of $95.15 to a high of $99.74. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $95.59 on volume of 252,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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

In the past 52 weeks, shares of Biomarin Pharmac have traded between a low of $75.81 and a high of $106.74 and are now at $96.25, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders biomarin pharmac

Ticker(s): BMRN