The price of Perrigo (PRGO) peaked back in April of last year and the decline is not over.
In this daily chart of PRGO, above, one can see the steady downtrend the past 12 months. Rallies have stopped at the declining 50-day moving average line. The On-Balance-Volume (OBV) line has weakened the past year and despite the lower lows in price, the momentum indicator is not displaying a bullish divergence.
This weekly chart of PRGO, above, reinforces the bearish case in the daily chart. Prices are below the declining 40-week moving average line. The OBV line is in a downward spiral, telling us that sellers of PRGO are more aggressive than the buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish. PRGO could have an oversold bounce at any time, but nothing right now indicates a price bottom, unfortunately.