Watch for Valeant Pharmaceuticals International to Potentially Rebound After Falling 1.22% Yesterday
Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $30.00 to a high of $31.20. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $30.27 on volume of 10.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and a 52-week low of $18.55 and are now trading 64% above that low price at $30.45 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.2% while the 200-day MA has slid 3.3%.
SmarTrend recommended that subscribers consider buying shares of Valeant Pharmaceuticals International on August 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.08. Since that recommendation, shares of Valeant Pharmaceuticals International have risen 18.2%. We continue to monitor VRX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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