Market Overview

Left Long Valeant: A Technical Look

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Valeant Pharmaceuticals Intl Inc (NYSE: VRX) shares are trading higher by $1.15 at $27.05. The issue is getting a lift off the announcement that Andrew Left of Citron Research is long the issue.

Left was the one of the first to call out the issue as a short and is now trying it find from the long side.

Related Link: Valeant Spikes After Andrew Left Says He's Long The Stock, Out-Of-Money Puts

The issue reached its lowest level since November 2010 last week when it bottomed at $23.55. It rebounded to end the week at $25.90.

The news of Left's stake has for the moment pushed the issue beyond the pair of highs from Thursday ($26.67) and Friday ($26.60), jumping into the $27 handle, with $27.15 standing as the current high.

Posted-In: Andrew Left Citron ResearchShort Sellers Technicals Intraday Update Movers Trading Ideas

 

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