Today, shares of Impax Laboratories (NASDAQ:IPXL) have fallen below their 10-day MA of $45.48 on a volume of 1.5 million 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, 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 0.3% exists for Impax Laboratories, based on a current level of $44.34 and analysts' average consensus price target of $44.45. The stock should hit resistance at its 50-day moving average (MA) of $46.23, as well as support at its 200-day MA of $33.97.
In the past 52 weeks, Impax Laboratories share prices have been bracketed by a low of $21.34 and a high of $52.10 and are now at $44.34, 108% above that low price. The 200-day and 50-day moving averages have moved 0.73% higher and 0.61% higher over the past week, respectively.