PPR - VRX pocket pivot 12/4/12
Drug manufacturer Valeant Pharmaceuticals (VRX) had a pocket pivot coming up through its 50-day moving average. Adding to the strength of this pocket pivot is that the stock has managed to form a contextually constructive base over the last few weeks even though the general market has been in a downtrend. This constructive price/volume action also came after the stock gapped up in early September. Earnings accelerated in the most recent quarter to 74% from 38%, compared to the same quarter a year ago. Sales also accelerated to 47%.
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