Comments on: VRX Valeant Pharmaceuticals Potential Bottoming Trade https://rightsideofthechart.com/vrx-valeant-pharmaceuticals-potential-bottoming-trade/ Stock Trading, Investing & Market Analysis Thu, 09 Mar 2017 02:19:11 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Gonewiththewind https://rightsideofthechart.com/vrx-valeant-pharmaceuticals-potential-bottoming-trade/#comment-3197 Wed, 15 Feb 2017 23:36:17 +0000 http://rightsideofthechart.com/?p=174668#comment-3197 A drug got approved by the FDA with black box warning. Can be a coin flip

]]> By: rsotc https://rightsideofthechart.com/vrx-valeant-pharmaceuticals-potential-bottoming-trade/#comment-3196 Wed, 15 Feb 2017 20:14:01 +0000 http://rightsideofthechart.com/?p=174668#comment-3196 So far, there has been a marked increase in volume both yesterday (when VRX broke above that most recent downtrend line on the daily chart) and with today’s follow-through move higher. That helps to validate the breakout & decreases the odds that it will fail (vs.an average or below average volume breakout).

The 90-day avg. volume on VRX is 14.9mm shares. Yesterday it traded 18.8mm shares & so far today it is has already traded over 22.5mm shares with 50 minutes left in the trading session. Keep in mind that volume on most stocks is highest in the morning following the open, tapering off & usually bottoming out around lunch-time (EST) & then increasing into the close. Viewed on a 1-minute chart, volume patterns for a stock often resemble a smile. As such, today’s follow-through move is very much confirmed on an expansion in volume.

]]> By: jrandhawa https://rightsideofthechart.com/vrx-valeant-pharmaceuticals-potential-bottoming-trade/#comment-3195 Wed, 15 Feb 2017 19:59:05 +0000 http://rightsideofthechart.com/?p=174668#comment-3195 Randy how is the volume on this one & the volume of the market in current upward push.

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