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

Published on Tue, 06/09/2015 - 11:14
By Mallory Stone in Moving average crossovers, IPXL, impax laboratories, moving crosses, nasdaq:ipxl

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.

By Mallory Stone
mstone@fnno.com

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