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Thursday, 1 March 2018
Valeant Pharmaceuticals (NYSE: VRX): 1 March 2018, Thursday, 11.36am Singapore Time
Valeant Pharmaceuticals (NYSE: VRX):
1 March 2018, Thursday, 11.36am Singapore Time
(Click on Technical Chart Above to Expand)
Today I received some enquiries about Valeant Pharmaceuticals (NYSE: VRX) -- The Donovan Norfolk Technical Buy Rating given to it on 18 May 2017 to scoop the bottom of Valeant @ $13.25. As I am now uncomfortable with the debt levels of Valeant Pharmaceuticals, and I judge that it is the debt levels of this company that is preventing it from further rally (as can be seen from selling volumes starting to take over again), I will abolish this speculative buy now and exit with whatever profits that is on hand. This speculation cannot be held for longer term because selling is coming back and the debt levels of Valeant is making me uncomfortable. For those who still want to stay within the healthcare sector, this is what I will do: I will now use the capital plus profits made from this trade and transit it to Fulgent Genetics Inc (NASDAQ: FLGT), in order to stay relevant within the healthcare industry for the same batch of bullets plus profits made from Valeant Pharmaceuticals.