Today, shares of Impax Laboratories (NASDAQ:IPXL) have crossed bearishly below their 10-day moving average of $48.17 on a volume of 211K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Impax Laboratories (NASDAQ:IPXL) is currently priced 6.6% above its average consensus analyst price target of $44.45. The stock should find initial support at its 50-day moving average (MA) of $47.49 and further support at its 200-day MA of $36.11.
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 $47.61, 123% above that low price. The 200-day and 50-day moving averages have moved 1.02% higher and 0.44% higher over the past week, respectively.
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.