Dr Reddys Laboratories: The Winning Streak Continues (RDY)
Dr Reddys Laboratories (NYSE:RDY) traded at a new 52-week high today of $35.62. This new high was reached on below average trading volume as 84,000 shares traded hands, while the average 30-day volume is approximately 162,000 shares.
Based on a current price of $35.50, Dr Reddys Laboratories is currently 0.1% above its average consensus analyst price target of $35.47. Dr Reddys Laboratories shares have support at the 50-day moving average (MA) of $33.35 and additional support at the 200-day MA of $31.49.
Dr. Reddy's Laboratories Limited provides a complete range of pharmaceutical services. The Company manufactures bulk drugs and formulations including verapamil and cephalexin. The Company also manufactures and exports molecules such as norfloxacin, ciprofloxacin, and varieties of semi-synthetic penicillin. The Company markets its products in India and around the world.
In the past 52 weeks, Dr Reddys Laboratories share prices have been bracketed by a low of $27.28 and a high of $35.62 and are now at $35.50, 30% above that low price. The 200-day and 50-day moving averages have moved 0.08% higher and 0.39% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Dr Reddys Laboratories on September 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.77. Since that recommendation, shares of Dr Reddys Laboratories have risen 11.0%. We continue to monitor RDY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows dr reddys laboratories