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Watch for Perrigo Co Plc to Potentially Rebound After Falling 2.41% Yesterday

By Shiri Gupta

Perrigo Co Plc (NYSE:PRGO) traded in a range yesterday that spanned from a low of $58.34 to a high of $59.52. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $59.74 on volume of 339,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Perrigo Co Plc has traded in a range of $40.68 to $60.98 and is now at $58.33, 43% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Perrigo Co Plc on January 14th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.53. Since that recommendation, shares of Perrigo Co Plc have risen 9.6%. We continue to monitor PRGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders perrigo co plc

Ticker(s): PRGO