Recent gaps in Valeant trading suggest potential for a turnaroun

Gaps in short term charts suggest that VRX shares may have bottomed out. Earlier this week, prior to the company’s earnings report, the shares gapped down then gapped up forming a small Island Bottom, leaving bears trapped offside. Following the earnings report, the shares staged a big breakaway gap to the upside and have held above the top of the gap, a sign of renewed interest.