SmarTrend identified a Downtrend for Medicis Pharmaceutical (NYSE:MRX) on November 10, 2010 at $27.88. In approximately 3 weeks, Medicis Pharmaceutical has returned 5.5% as of today's recent price of $26.35.
In the past 52 weeks, shares of Medicis Pharmaceutical have traded between a low of $21.02 and a high of $30.94 and are now at $26.35, which is 25% above that low price.
Medicis Pharmaceutical is currently below its 50-day moving average of $29.19 and should find support at its 200-day moving average of $25.96. Look for these moving averages to decline to confirm the company's downward momentum.
In the last five trading sessions, the 50-day MA has fallen 0.64% while the 200-day MA has risen 0.37%.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Medicis Pharmaceutical.
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