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Watch for Valeant Pharmaceuticals International to Potentially Rebound After Falling 4.36% Yesterday

By Nick Russo

Valeant Pharmaceuticals International (NYSE:VRX) traded in a range yesterday that spanned from a low of $12.44 to a high of $13.28. Yesterday, the shares fell 4.4%, which took the trading range below the 3-day low of $12.90 on volume of 17.1 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 47.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Valeant Pharmaceuticals International share prices have moved between a 52-week high of $263.81 and the current low of $12.44 and are currently at $12.56 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%.

Keywords: rebounders valeant pharmaceuticals international

Ticker(s): VRX