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Upgrade Alert for Watson Pharmaceuticals (WPI)May 24, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Watson Pharmaceuticals (NYSE:WPI) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $70.71 on volume of 1.5 million shares, below average daily volume of 2.6 million. Watson Pharmaceuticals has overhead space with shares priced $70.71, or 18.1% below the average consensus analyst price target of $86.35. The stock should find initial support at its 50-day moving average (MA) of $68.59 and further support at its 200-day MA of $64.75. Watson Pharmaceuticals, Inc. develops, manufactures, and sells generic and brand name pharmaceutical products. The Company's core focus is specialty products, nephrology, urology, and generic products. Watson Pharmaceuticals share prices have moved between a 52-week high of $77.73 and a 52-week low of $55.00 and closed yesterday at 29% above that low price at $70.71 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%. SmarTrend recommended that subscribers consider buying shares of Watson Pharmaceuticals on February 15th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.58. Since that recommendation, shares of Watson Pharmaceuticals have risen 16.7%. We continue to monitor WPI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |