KV PHARMACEUTICAL FALLS 12.88% ON HEAVY VOLUME: WATCH FOR POTENTIAL REBOUND (KV.A)

KV Pharmaceutical (NYSE:KV.A) traded in a range yesterday that spanned from a low of $6.84 to a high of $8.19. Yesterday, the shares fell 12.88%, which took the trading range below the 3-day low of $7.89 on volume of 4.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. Shares of KV Pharmaceutical should find initial support at their 50-day moving average (MA) of $6.52 and further support at their 200-day MA of $3.07. Look for the MA to provide resistance for a short-term rebound in the shares. SmarTrend is monitoring the recent change of momentum in KV Pharmaceutical. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of KV Pharmaceutical in search of a potential trend change. SmarTrend expects the share price to rebound toward the $7.89 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Generic industry.