FXstreet

Valeant Pharmaceuticals

• "With all the bloviating on the campaign trail about reeling in drug costs these days, it’s safe to say the pharmaceutical industry is under siege."
• "But it’s not all the politicians’ fault; many of the sector’s injuries are self-inflicted. Case in point: Valeant Pharmaceuticals’ (VRX), whose stock has plunged 62% amid ongoing accounting concerns."

As we see from the chart - VRX weekly price is on bearish breakdown: the price broke Ichimoku cloud to be reversed from the primary bullish to the primary bearish market condition.



The monthly price is on breakdown with bearish reversal to be started on open monthly bar for now.

To make it shorter: VRX will be on global bearish condition in a long and a medium term situation for example.


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