Clean Living for Valeant; And They're Better for It

Lost in the shuffle of various headlines this winter and spring has been the steady comeback by Valeant Pharmaceuticals International, Inc. We profiled VRX about a month ago, and updated the daily chart, below, we can see the progress continues to take shape. 

Beyond organic growth, Valeant has plans to change its name to Bausch Health Companies, as management takes another step towards a makeover and doing its best to have the market forget about its past controversies.

Indeed, the VRX drama days seem to have abated, and Bill Ackman long gone from the name. 

Looking solely at the VRX daily chart, there is plenty to like, with price breaking a tight base higher in the context of an uptrend. 

While the medical device and healthcare IT plays have been generally better performers in healthcare than the large pharmas, VRX is a compelling situation, especially if bulls can clear the $24.50 area just above this summer and potentially unleash a run into the $30s. 

Elsewhere, bulls are generally running in the prominent growth leaders like AMZN NFLX, not to mention up-and-comer TWTR, despite a red Dow.