Valeant Pharmaceuticals Intl Inc VRX shares are trading lower $0.76 at $11.65 in Tuesday's session and trading lower for the fifth time in its last six sessions (including Tuesday's price action) since releasing its fourth-quarter earnings report before the open on February 28.
Over that time, it has declined from its February 27 close ($16.71) to as low as $11.36 earlier in Tuesday's session. The pace of decline accelerated on Monday when the issue breached its former long-term support level at $13.00.
After a lower open, it could not even reach the lower-end of Monday's range ($12.30), only reaching $12.28 before continuing its move lower. So far, the ensuing decline has taken the issue to $11.36 and it is attempting to rebound.
This marks the lowest level for the issue since it bottomed in September 2009 at $11.14.
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