Watch for Valeant Pharmaceuticals International to Potentially Rebound After Falling 4.52% Yesterday
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $23.55 to a high of $26.67. Yesterday, the shares fell 4.5%, which took the trading range below the 3-day low of $26.28 on volume of 33.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, Valeant Pharmaceuticals International share prices have been bracketed by a current low of $23.55 and a high of $263.81 and are now at $24.93. Over the last five market days, the 200-day moving average (MA) has gone down 3.3% while the 50-day MA has declined 8.2%.
SmarTrend is monitoring the recent change of momentum in Valeant Pharmaceuticals International. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Valeant Pharmaceuticals International in search of a potential trend change.
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