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Valeant

$BHC almost a buy: under the radarI am waiting for an entry long in $BHC but positive signs are already there especially RSI is giving an insight, MA 200 is almost close and it might be probable a new test. Monthly RSI is down and on a weekly basis price is approcing the pullback of the third bullish wave. For the time being, given the positive earnings release a bullish trend continuation is highly probable but I would not exclude somewhat time to complete the flag in order to reach the main trendline in red. If it is not like that a bullish signal will be given ....only.... when the price breaks the upper edge of the flag. For aggressive traders an entry long might be done even today with really tight SL.
NYSE:BHC
by TRADOMICS_
BHC Bausch Health: possible opportunity in the next daysAlthough earnings are releasing next week, the today's session for $BHC will be critical: a trend inversion might be possible on a daily basis, yesterday price formed a dragon fly bullish as the arrow shows. This must be confirmed with a black (green) candle today in order to develop minimum of swing, otherwise there will be no signs for an inversion in the short term. Ground seems to be ready even because RSI (oscillator) is near the range of 30-40 which means that it is charged enough to support a bullish trend. Conclusions For aggressive traders entry long might be done today with tight SL. Price actually flows over a solid support around 21.50 dollars. For conservative traders: watch and wait at least today.
NYSE:BHC
by TRADOMICS_
2
VRX warning: overbought and RSI oscillator in divergenceI haven't taken position since VRX released its q1 because I was not very convinced about its fundamentals. (Nontheless good long opportunities have come in, but my strategy is also to combine foundamentals and techical analysis, especially for such volatile stock). On top of it, EPS turned out negative. Now we have situation where the price is clearly in the overbought area plus RSI is flagging up a divergence as the last pick of Friday is lower than the pick happened on Wednesday. I recommend to watch it out carefully as we haven't clear signs of short but signs of closing long position. Price has gone far from the main uptrend line as showed in the picture Another consideration is that the price has reached a key resistance level around 25.90 as I had previously discussed some time ago. I expect a retracement which might be quite consistent as it rallied more than 30% in the last few months. I would use the line and the Fibonacci retracement for further analysis.
V
by TRADOMICS_
VRX a possible short with tight SLIn the last days vrx has seen a small rally and the price reache 17,23 dollars. This is the area where there is a first resistence as the top reached in March. A break of this line will have as a second step would be around 17.90. Unfortunately yesterday price closed with an hammer so a backdown movement is probable till the bottom line. It is not escluded that price will get into the trading range between the red lines. In both cases red/red or red/yellow what I see is a consolidation phase that at the moment is still bearish. Only a violent movement or with strong volume would change the picture.
V
by TRADOMICS_
1
VRX toward the first TPVRX yesterday has reached the first TP around 24.3/24.5 according to what happened some years ago. I expect some resistence here. if such hurdle will be step over, I expect another resistence at 26/27. This because some investors will take profit from the rally began in November: From 11 dollars to 19 (the neckline) 8 dollars of difference. 8+19= 27. Third TP is around 32/33 dollars. In the meantime Valeant will present at JP Morgan healthcare conference on the 10 jan, whilst fresch data on bussiness activity will be rolled out on 22 of febraury.
VLong
by TRADOMICS_
VRX imminent attack to 18 dollarsVRX after the correction largly expected, yesterday as demostrated a strong bullish counterattack closing the session slightly less than the short entry recovering mostly 100%. The pattern therefore shows clearly the uptrend line in place. Investors are considering a Q4 better than Q3 looking for new confirmation about debit reduction, so I expect price will move up, breaking down the barrier set at 18 dollars. In case of confirmation this would be a strong signal as Valeant is gaining back attention and potential turn around. Still there is a long way to go through, but what is important right now to highlight is that the trend has been confirmed.
VLong
by TRADOMICS_