VRX is offering a good buy opportunity for next week, after taking off from a sizeable accumulation base. We can buy signs of strength (a new high, or the day turning up above the previous close). We can also look into buying on retracement to support at 34.92. Keep stops below 33.35 and if we open with a considerable gap up, cancel the orders and stand...
With all the warts this company has, I figured I'd take the money and run on this upmove. The original short put was filled for 1.37 credit, I covered it for a 1.12 debit, so made about .25 ($25) per contract (about 18.2% in a couple of days).
What's not to like about a play that will get you more than 1.00 credit ($100)/contract at a strike $11 below current price? Here are the metrics: VRX May 20th 15 short put Probability of Profit: 74% Max Profit: $1.37 ($137)/contract Buying Power Effect/Max Risk: ~$150/$1363 (assuming you do nothing, get assigned the shares at $15/share, and the stock goes to...
VRX Monthly view for a bounce are $28-$35 area
Symmetrical triangle and channel breakouts indicate possible long entry here.
@1simpletrader: This is about to print an FU candle. True what they say, every dog has its day.
Due to worse than expected ER, and lowered guidance, and top of all failed $AGN acquisition, it is very possible that $VRX is going to $90-$100 price level. Company is not profitable and even if their international profits rise (mostly Russia and Europe), there are problems in creating sustainable growth.
Tuesday brought news concerning VRX's plan to takeover AGN which saw a noteworthy spike in volume and price today. Prices faded into Monday's trading range creating an Inverted Hammer near major support. With the price action movement, we saw the mac-d histogram make its first higher low over this last leg down along with a bullish cross coming from the...
Boy, does VRX have shtty fundamental, but interesting technicals. I used to hate geometry when I was in high school, but it looks like it finally paid off. I used dotted line to visualize the way that VRX could've gone if the Allergan deal doesn't exist. VRX rallied 1000% in the last 4 years, the Allergan deal is like a life support machine for Valeant right...