Bullish Moving Average Cross by Mylan (MYL)

Published on Wed, 03/11/2015 - 11:04
By Mallory Stone in Moving average crossovers, MYL, moving crosses, mylan, nasdaq:myl

Mylan (NASDAQ:MYL) crossed over its 10-day moving average of $56.57 on a volume of 7.4 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Mylan share prices have moved between a 52-week high of $59.92 and a 52-week low of $15.49 and are now trading 281% above that low price at $59.00 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Mylan (NASDAQ:MYL) has potential upside of 0.5% based on a current price of $59.00 and analysts' consensus price target of $59.31. The stock should discover initial support at its 50-day moving average (MA) of $55.58 and subsequent support at its 200-day MA of $52.01.

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 Mallory Stone
mstone@fnno.com

Latest News from FNNO

Acacia Research: The Losing Streak Conti...

Acacia Research (NASDAQ:ACTG) traded today at a new 52-week low of $10.12. So far toda ...

Shares of Hasbro Are Moving Higher on 1....

Hasbro shares are trading on heavy volume today, having risen 0.2% to $66.15. About 1. ...

Shares of Repros Therapeutics Are Moving...

Repros Therapeutics shares are trading on heavy volume today, having fallen 3.7% to $8. ...

Trading Higher on Heavy Volume are Share...

The price of CR Bard shares has climbed to $171.65 (a 0.5% change) on heavy trading vol ...

Infinera's Shares Changing Hands at Lowe...

Shares of Infinera are trading today in above average volume, with the share price fall ...

Costco Wholesale Trading Lower on 1.3x A...

Shares of Costco Wholesale are trading down 2.4% to $143.62 today on above average volu ...

Sellers Reduce Exposure to Shares of Ker...

Keryx Biopharmaceuticals's stock is down 4.6% to $11.71 on heavy trading volume. About ...

Trading Lower on Heavy Volume are Shares...

F5 Networks shares are trading on heavy volume today, having fallen 1.7% to $116.04. A ...