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Watch for Alkermes Plc to Potentially Pullback After Gaining 1.65% Yesterday

By Amy Schwartz

Alkermes Plc (NASDAQ:ALKS) traded in a range yesterday that spanned from a low of $59.02 to a high of $60.86. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $59.63 on volume of 521,000 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 subscribers consider buying shares of Alkermes Plc on April 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.32. Since that recommendation, shares of Alkermes Plc have risen 57.7%. We continue to monitor ALKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Alkermes Plc has traded in a range of $39.65 to $63.40 and is now at $59.84, 51% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 1.1%.

Keywords: rebounders alkermes plc

Ticker(s): ALKS