• Return to Headlines

Watch for Valeant Pharmaceuticals International to Potentially Pullback After Gaining 9.61% Yesterday

By David Diaz

Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $12.45 to a high of $13.38. Yesterday, the shares gained 9.6%, which took the trading range above the 3-day high of $12.85 on volume of 21.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and a 52-week low of $8.31 and are now trading 60% above that low price at $13.31 per share. Over the past week, the 200-day moving average (MA) has gone down 3.3% while the 50-day MA has declined 8.2%.

SmarTrend recommended that subscribers consider buying shares of Valeant Pharmaceuticals International on May 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.50. Since that recommendation, shares of Valeant Pharmaceuticals International have risen 5.8%. We continue to monitor VRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders valeant pharmaceuticals international

Ticker(s): VRX