Impax Laboratories (NASDAQ:IPXL) crossed under its 10-day moving average of $19.99 on a volume of 209K shares. Swing traders may find an opportunity 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.
Impax Laboratories (NASDAQ:IPXL) has potential upside of 17.8% based on a current price of $19.72 and analysts' consensus price target of $23.22. The stock should run into initial resistance at its 50-day moving average (MA) of $20.55 and subsequent resistance at its 200-day MA of $22.04.
Impax Laboratories share prices have moved between a 52-week high of $28.75 and a 52-week low of $14.46 and are now trading 36% above that low price at $19.72 per share. The 200-day and 50-day moving averages have moved 0.54% lower and 0.17% lower over the past week, respectively.