JoeHayes
Long

Buy Stop Opportunity on VRX

NYSE:VRX   VALEANT PHARMACEUTICALS INTERNATIONAL INC
Tuesday 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.
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