Valeant Pharmaceuticals Intl Inc
(NYSE:VRX) Friday's price bar was a possible reversal bar. The stock
made a new 52-week low during the session but closed the day with a nice
gain of 2.22% , despite the market sell-off. This creates a bullish
scenario for next week. Key daily technical indicators are displaying
positive divergences and I think we could see a strong reversal over the
coming sessions. Friday’s high of $76.30 is resistance for the next
upside move. If the stock can break through this level, we should see a
strong follow through move.
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