It's been a couple of months since we last checked out Valeant $VRX. At the time, we noted that there is a lot of prevailing bearish momentum, but if VRX shares can hold above 13, there would be a chance for a 2017 price action to be a large inverted head and shoulders. Valeant (VRX) (click to enlarge)Holding Above 13:- Over the past couple of months, we can see that price indeed held above 13.- Price action has made a possible right shoulder with this 2-month consolidation.Resistance at 15:- Price has held above 13, but remained under 15, with low volume and volatility. - Now, if price can clear above 15, VRX might swing towards the neckline around 18.50. - If you look carefully, you can see that the right shoulder is an inverted head and shoulder. - This fractal signature gives me more confidence the market is gearing up for some recovery at least towards 18.50 if not higher.