Valeant Pharma Back Bearing Down On Major Support

by Joel Elconin, Benzinga Staff Writer

March 3, 2017 12:25 PM | 1 min read | Make a Comment

Valeant Pharmaceuticals Intl IncVRX

shares are trading lower by $0.68 at $13.07 in Friday's session. It has shed $3.00 from last Friday's closing price of $16.18. This is despite a fourth-quarter beat announced on Monday an EPS of $0.05 along with $60 million more in revenues.

After a flat open, the issue found resistance just above Thursday's closing price ($13.75), reaching $13.88 before reversing course. The ensuing decline has taken the issue within $0.03 of its low ($13.00) for its slide since August 2015, when it peaked at $263.81.

Since rebounding off the intraday low, so far, the rally has been capped at $13.22.

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