Bearish Moving Average Cross by Impax Laboratories (IPXL)

Published on Fri, 04/17/2015 - 13:08
By Robert Cotter in Moving average crossovers, IPXL, impax laboratories, moving crosses, nasdaq:ipxl

Impax Laboratories (NASDAQ:IPXL) shares have crossed bearishly below their 10-day moving average of $50.23 on a volume of 605K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Impax Laboratories (NASDAQ:IPXL) is currently priced 16.7% above its average consensus analyst price target of $41.54. Impax Laboratories shares have support at the 50-day moving average (MA) of $43.65 and additional support at the 200-day MA of $32.43.

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.

Impax Laboratories share prices have moved between a 52-week high of $52.10 and a 52-week low of $21.34 and are now trading 134% above that low price at $49.84 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.5%.

By Robert Cotter
rcotter@fnno.com

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