Endo Pharmaceuticals (NASDAQ:ENDP) traded in a range yesterday that spanned from a low of $33.41 to a high of $34.47. Yesterday, the shares fell 2.30%, which took the trading range below the 3-day low of $33.57 on volume of 677,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Shares of Endo Pharmaceuticals are currently trading below their 50-day moving average (MA) of $35.38 and should find support at their 200-day MA of $28.89. Look for the MA to provide resistance for a short-term rebound in the shares.
Endo Pharmaceuticals Holdings Inc. is a specialty pharmaceutical company with products that provide pain management. The Company researches, develops, produces, and markets both branded and generic pharmaceuticals. Endo's products include Percocet, Percodan, and Lidoderm.
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