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Watch for Questcor Pharmaceuticals to Potentially Rebound After Falling 1.75% Yesterday
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Questcor Pharmaceuticals (NASDAQ:QCOR) traded in a range yesterday that spanned from a low of $35.72 to a high of $36.76. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $33.81 on volume of 916,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
In the past 52 weeks, shares of Questcor Pharmaceuticals have traded between a low of $12.16 and a high of $45.95 and are now at $35.96, which is 196% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has declined 1.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Questcor Pharmaceuticals on January 4th, 2012 by issuing a Downtrend alert when the shares were trading at $39.48. Since that call, shares of Questcor Pharmaceuticals have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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