Allergan PLC Stock, what levels we have to watch to trade it

Allergan plc stocks breakdown, how we trade it

Allergan PLC was a good stock to open a SHORT position in mid-October, but we were already SHORT from September.

It’s easy for everyone to understand why, in October, Allergan is losing so many points. In fact, on Monday October 16, an US federal court has decided to invalidate four of the six patents covering the Restasis, causing a drop of 5% of shares (NASDAQ source). Someone even thought that the shares fell because men no longer need Viagra, but I don’t think that’s the reason, what do you think? 🙂

However, the Wall Street Stock Strategy team, based on their own signals, had expected a drop of the title already in September, opening a SHORT position at 202.50, 208.89 and 213.43 USD (Allergan PLC cod: AGN, now at 179 USD per share).

Allergan PLC strong fall in October after Federal Court decision to invalidate four of the six patents covering the Restasis

We said it to our clients in the FREE Report of the 22th September 2017, and our position is in profit of +15% per share. Here is the FREE signal we sent to our Subscribers on September 22, the first one, easy to read:

Allergan PLC trading strategy: we gave the signal to open short positions in September

We must not be greedy. Studying our data and numbers we think that 186 is a level with a strong energy, (it’s also visible at a glance), where the Stock can find supports/resistances. We have taken some profits during the descent, and the last movement below 186 suggests a continuation of the downtrend, this is why we are holding our SHORT position. Our next target is in area 169.80, where we are planning to take some profits, and then area 162.50, which is very important. If we see a movement above 186, we will consider to take some new profits to protect the position.

Allergan PLC Stock, we have to pay attention at $186 and $169.80

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