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When it comes to stocks that have been hit hard of late, Valeant Pharma (VRX), sure comes to mind. VRX is declined over 70% since July.
The decline has caused momentum to reach levels not seen since the 2009 lows at (1).
Volume has skyrocketed at (2). Potential that panic selling has taken place?
VRX after the huge decline, finds itself testing a cluster of support at (3).
Joe Friday just the facts...VRX is part of the 4-year white hot Bio-tech sector. What VRX does at (3) above, will have a big impact on the leading Bio-tech sector, which should also have an impact on the broad markets!