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Impax Laboratories Crosses Below its 10-day MA (IPXL)

Published on Fri, 01/18/2013 - 12:12
By Adrienne Chilton

Today, shares of Impax Laboratories (NASDAQ:IPXL) have crossed bearishly below their 10-day moving average of $21.53 on a volume of 257K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Impax Laboratories has traded in a range of $14.46 to $28.75 and is now at $21.31, 47% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.2%.

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 13.1% exists for Impax Laboratories, based on a current level of $21.31 and analysts' average consensus price target of $24.11. The stock should find resistance at its 200-day moving average (MA) of $22.47, as well as support at its 50-day MA of $20.61.

By Adrienne Chilton
achilton@fnno.com

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