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Watch for Horizon Pharma P to Potentially Rebound After Falling 2.63% Yesterday

By Shiri Gupta

Horizon Pharma P (NASDAQ:HZNP) traded in a range yesterday that spanned from a low of $15.15 to a high of $15.67. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $15.43 on volume of 959,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Horizon Pharma P share prices have been bracketed by a low of $9.45 and a high of $23.44 and are now at $15.22, 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.7% while the 200-day MA has slid 2.1%.

SmarTrend recommended that subscribers consider buying shares of Horizon Pharma P on July 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.73. Since that recommendation, shares of Horizon Pharma P have risen 22.5%. We continue to monitor HZNP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders horizon pharma p

Ticker(s): HZNP