NEW YORK (TheStreet) -- Shares of Allergan (AGN) - Get Report are down 1.03% to $257.56 in early-afternoon trading on Thursday.

The Federal Trade Commission (FTC) is close to approving Teva Pharmaceutical's (TEVA) deal to purchase Allergan's generic unit for $40.5 billion, sources told Bloomberg.

Allergan is a pharmaceutical company based in Dublin.

(Allergan is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with afree trial.)

TheStreet'sChris Versace and Bob Lang of Trifecta Stocks have identified Allergan as the "Chart of the Day." Here is what Versace and Lang had to say about the stock:

After a string of bad news for Allergan, including being rebuffed by U.S. regulators for a merger with Pfizer (PFE), it seems the Action Alerts PLUS holding has regained its mojo, punctuated Wednesday by the FTC's approval of the sale of its generics business to Teva.

Image placeholder title

Allergan has finally broken free of tiresome resistance around $250 and did it in a big way Wednesday. The MACD buy signal is still in place, but what I like to see is the impressive relative strength (top pane). The slope is steep and portrays a powerful trend. Momentum is climbing, and a stock like this is not likely to stop on the first big thrust. Resistance is ahead at the 200-day moving average, near $269. We could see a pause there, and that might be a great buying opportunity.

- Chris Versace and Bob Lang "Chart of the Day: Allergan" originally published on 7/28/16 on Trifecta Stocks.

Want more like this from Chris Versace and Bob Lang BEFORE your stock moves? Learn more about Trifecta Stocks now here.

Separately, TheStreet Ratings Team has a "Hold" rating with a rating score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income.

But the team also finds that the stock has had a generally disappointing performance in the past year.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AGN