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Watch for Valeant Pharmaceuticals International to Potentially Rebound After Falling 10.24% Yesterday

By Shiri Gupta

Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $10.50 to a high of $11.04. Yesterday, the shares fell 10.2%, which took the trading range below the 3-day low of $11.50 on volume of 54.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Valeant Pharmaceuticals International on September 30th, 2016 by issuing a Downtrend alert when the shares were trading at $25.04. Since that call, shares of Valeant Pharmaceuticals International have fallen 51.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Valeant Pharmaceuticals Internationalhas traded in a range of $10.50 to $263.81 and are now at $10.81. The 200-day and 50-day moving averages have moved 3.27% lower and 8.22% lower over the past week, respectively.

Keywords: rebounders valeant pharmaceuticals international

Ticker(s): VRX