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Watch for Biomarin Pharmac to Potentially Pullback After Gaining 10.54% Yesterday

By Shiri Gupta

Biomarin Pharmac (NASDAQ:BMRN) traded in a range yesterday that spanned from a low of $73.70 to a high of $74.90. Yesterday, the shares gained 10.5%, which took the trading range above the 3-day high of $74.80 on volume of 56,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend 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, Biomarin Pharmac share prices have been bracketed by a low of $62.88 and a high of $101.72 and are now at $74.32, 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.3%.

Keywords: rebounders biomarin pharmac

Ticker(s): BMRN