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SmarTrend Watching for Rebound in Shares of Questcor Pharmaceuticals After 3.78% Loss (QCOR)

Written on Thu, 07/22/2010 - 2:39am
By Chip Brian

Questcor Pharmaceuticals (NASDAQ:QCOR) traded in a range yesterday that spanned from a low of $8.91 to a high of $9.29. Yesterday, the shares fell 3.78%, which took the trading range below the 3-day low of $9.00 on volume of 311,000 shares.
Shares of Questcor Pharmaceuticals are currently trading below their 50-day moving average (MA) of $9.84 and should find support at their 200-day MA of $6.73. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Questcor Pharmaceuticals and our subscribers were alerted to Sell on July 07, 2010 at $9.38. The stock has fallen 5% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $9.00 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Other industry.

Keywords: questcor pharmaceuticals trading range stock news

Ticker(s): QCOR

Contact Chip Brian



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