Valeant Pharmaceuticals Intl Inc VRX shares are trading higher by $2 at $30.98 in Tuesday's session. The issue traded lower in the four of its five previous sessions since its Q4 miss announced on March 15 along with lower guidance. The one outlier was a small gain of $0.03 the following its $35 drubbing on the earnings miss.
The issue has not posted a two-day rally since its three-day rally from February 22-25.
It appears the issue was in a short-term bottom on Monday morning at $25.99, when the company announced it would be replacing its CEO. It rallied $2.40 for the day at $28.98.
After a higher open, it retreated and found support just ahead of Monday's close, finding buyers at $29.01 and reversing course. So far, the rally has come up shy of Monday's high ($31.59), as the current high rests at $31.25.
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