VRX: Interesting long setupVRX is offering a good buy opportunity for next week, after taking off from a sizeable accumulation base.
We can buy signs of strength (a new high, or the day turning up above the previous close).
We can also look into buying on retracement to support at 34.92. Keep stops below 33.35 and if we open with a considerable gap up, cancel the orders and stand aside.
Targets on chart: 43.46 and 50.81.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
VRX
BOUGHT VRX MAY 20TH 15 SHORT PUT TO COVERWith all the warts this company has, I figured I'd take the money and run on this upmove.
The original short put was filled for 1.37 credit, I covered it for a 1.12 debit, so made about .25 ($25) per contract (about 18.2% in a couple of days).
SOLD VRX MAY 20TH 15 SHORT PUTWhat's not to like about a play that will get you more than 1.00 credit ($100)/contract at a strike $11 below current price?
Here are the metrics:
VRX May 20th 15 short put
Probability of Profit: 74%
Max Profit: $1.37 ($137)/contract
Buying Power Effect/Max Risk: ~$150/$1363 (assuming you do nothing, get assigned the shares at $15/share, and the stock goes to "0" without your selling calls against).
Notes: In this particular case, I'm fine with taking assignment of the stock at $15/share if it comes to that, but will look to exit the trade at 50% max profit.
$VRX Long: Symmetrical TriangleSymmetrical triangle and channel breakouts indicate possible long entry here.
Cover or perish@1simpletrader: This is about to print an FU candle. True what they say, every dog has its day.
$VRX - Possible downfall, acqusition of $AGN not doneDue to worse than expected ER, and lowered guidance, and top of all failed $AGN acquisition, it is very possible that $VRX is going to $90-$100 price level. Company is not profitable and even if their international profits rise (mostly Russia and Europe), there are problems in creating sustainable growth.
Buy Stop Opportunity on VRXTuesday brought news concerning VRX's plan to takeover AGN which saw a noteworthy spike in volume and price today. Prices faded into Monday's trading range creating an Inverted Hammer near major support. With the price action movement, we saw the mac-d histogram make its first higher low over this last leg down along with a bullish cross coming from the stochastic.
Wait for price to move through Tuesday's high price of 121.67 to get long VRX with stop losses just below Monday's lows. VRX shouldn't see any real resistance until 129s.
VRX, breaking Bad or breaking Dead.Boy, does VRX have shtty fundamental, but interesting technicals. I used to hate geometry when I was in high school, but it looks like it finally paid off.
I used dotted line to visualize the way that VRX could've gone if the Allergan deal doesn't exist.
VRX rallied 1000% in the last 4 years, the Allergan deal is like a life support machine for Valeant right now. Although some people argue Valeant can go after other companies if this one didn't come through, but this tug of war is hurting Valeant really bad. Now everybody (even those don't own or never even heard of this stock, many of whom will become potential shorts by the way) now knows Valeant has heavy debt burden, shortsighted/unsustainable operating model, ruthless tradition of slashing R&D, and fishy accounting practice, the list goes on.
At this point, there is 1 catalyst to keep VRX going, dozens to drag it down.
