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

Published on Thu, 02/28/2013 - 15:15
By Robert Cotter

Mylan (NASDAQ:MYL) traded at a new 52-week high today of $30.47. Approximately 9.3 million shares have changed hands today, as compared to an average 30-day volume of 4.6 million shares.

In the past 52 weeks, shares of Mylan have traded between a low of $15.49 and a high of $30.47 and are now at $29.62, which is 91% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

There is potential upside of 5.0% for shares of Mylan based on a current price of $29.62 and an average consensus analyst price target of $31.09. The stock should find initial support at its 50-day moving average (MA) of $28.25 and further support at its 200-day MA of $24.75.

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.

By Robert Cotter
rcotter@fnno.com