SHORT VRX.T - Over extended, multiple gap fills, and bad press.
MOVING AVERAGES: 30SMA miles away on the daily and its been previous resistance (for example Feb 27 2018 and March 16 2018) after breaking through on April 12th VRX blasted to the upside.. I am expecting the daily the close in on the 30sma line i've highlighted.
CANDLE STICK: Dumpling top on the daily broke bearish. Also broke the daily higher low today.
RSI: over extended on the daily, and 4 hour at levels that are known to pull back.
GAP FILL: Gapped up on May 8th 2018 $24.46 to $26.14
PRESS: Ex-Valeant, Philidor executives convicted of kickback scheme finance.yahoo.com/news/ex-valeant-philidor-executives-found-151003282.html?.tsrc=rss
I dont think the news really matters that much but just ads the over extended stock that has multiple reasons the come down. I think the price will hit the $24 area. I'm short since yesterday at $28.32TSX:VRX
CANDLE STICK: Dumpling top on the daily broke bearish. Also broke the daily higher low today.
RSI: over extended on the daily, and 4 hour at levels that are known to pull back.
GAP FILL: Gapped up on May 8th 2018 $24.46 to $26.14
PRESS: Ex-Valeant, Philidor executives convicted of kickback scheme finance.yahoo.com/news/ex-valeant-philidor-executives-found-151003282.html?.tsrc=rss
I dont think the news really matters that much but just ads the over extended stock that has multiple reasons the come down. I think the price will hit the $24 area. I'm short since yesterday at $28.32TSX:VRX
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