Allergan Looks Tired

Allergan (AGN), a specialty pharmaceuticals and medical devices company, is trading at all-time highs. But this cyclical stock looks a little tired as its successive highs are not keeping pace with its successive lows - this pattern is called a rising wedge and usually indicates a bearish reversal. And the chart shows that AGN is subject to significant cyclical downside moves.

Be careful with AGN.

Related Articles:

Making Money With Cyclical Stocks
Rising Wedge Is a Bearish Pattern

Posted November 13, 2007.