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Recent 52-Week High Exceeded in Shares of Mylan (MYL)

Published on Fri, 02/01/2013 - 15:27
By Robert Cotter

Shares of Mylan (NASDAQ:MYL) traded today at $29.00, breaking its 52-week high. So far today approximately 3.6 million shares have been exchanged, as compared to an average 30-day volume of 5.4 million shares.

Mylan (NASDAQ:MYL) has potential upside of 6.1% based on a current price of $28.92 and analysts' consensus price target of $30.67. The stock should discover initial support at its 50-day moving average (MA) of $27.67 and subsequent support at its 200-day MA of $24.10.

Mylan, Inc. develops, licenses, manufactures, markets, and distributes generic, brand and branded generic pharmaceutical products and active pharmaceutical ingredients . The Company sells its products to wholesalers, distributors, retail pharmacy chains, mail order pharmacies, group purchasing organizations, and healthcare professionals.

Over the past year, Mylan has traded in a range of $15.49 to $29.00 and is now at $28.92, 87% above that low. The 200-day and 50-day moving averages have moved 0.52% higher and 0.74% higher over the past week, respectively.

By Robert Cotter