Bearish Moving Average Cross by Impax Laboratories (IPXL)

Published on Thu, 02/07/2013 - 12:17
By Adrienne Chilton in Moving average crossovers, IPXL, impax laboratories, moving crosses, nasdaq:ipxl

Impax Laboratories (NASDAQ:IPXL) crossed under its 10-day moving average of $20.03 on a volume of 340K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Impax Laboratories, Inc. develops, manufactures, and markets both proprietary and multi-source pharmaceutical products utilizing its drug delivery technologies. The Company specializes in the development of niche and controlled release generics, as well as the development of branded products.

Potential upside of 18.3% exists for Impax Laboratories, based on a current level of $19.63 and analysts' average consensus price target of $23.22. The stock should find initial resistance at its 50-day moving average (MA) of $20.60 and further resistance at its 200-day MA of $22.20.

Impax Laboratories share prices have moved between a 52-week high of $28.75 and a 52-week low of $14.46 and are now trading 36% above that low price at $19.63 per share. The 200-day and 50-day moving averages have moved 0.31% lower and 0.07% lower over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Cash America Fulfills the Promise: Up 4....

One week ago Cash America (NYSE:CSH) was upgraded from Neutral to Buy at Sterne Agee. ...

Precision Drilling Corp In Retrospect: S...

One week ago Precision Drilling Corp (NYSE:PDS) was upgraded from Hold to Buy at Deutsc ...

JB Hunt Transport Services Fulfills the ...

One week ago JB Hunt Transport Services (NASDAQ:JBHT) was upgraded from Neutral to Outp ...

Credit Suisse Made the Right Call, Hersh...

Hershey was downgraded from Outperform to Neutral by Credit Suisse one week ago. The s ...

Rogers Communications Fulfills the Promi...

A week ago, Canaccord Genuity upgraded Rogers Communications from Sell to Hold. The sh ...

Yahoo! In Retrospect: Shares Down 5.6% S...

Yahoo! was downgraded from Buy to Fair Value by CRT Capital one week ago. The stock cl ...

Analyst Rating In Review: Mellanox Techn...

One week ago Mellanox Technologies (NASDAQ:MLNX) was upgraded from Hold to Buy at Jeffe ...

Analyst Rating In Review: Western Digita...

A week ago, RW Baird upgraded Western Digital from Neutral to Outperform. Western Digi ...