Chart courtesy of stockcharts

Shares of PDL Biopharma were down today more than 6% after Wachovia downgrade the stock from Outperform to Market perform. In today session stock have traded nearly 7 millions shares, 3 times the average daily volume. Looking at the chart stock closed under the major support at 25$, so pay attention if during tomorrow stock close below this value. Overall picutre for stock at this moment is bearish.