Dr Reddys Laboratories: The Winning Streak Continues (RDY)
Dr Reddys Laboratories (NYSE:RDY) traded at a new 52-week high today of $46.00. Approximately 50,000 shares have changed hands today, as compared to an average 30-day volume of 222,000 shares.
Over the past year, Dr Reddys Laboratories has traded in a range of $31.32 to $46.00 and is now at $45.97, 47% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.
Dr Reddys Laboratories (NYSE:RDY) is currently priced 0.6% above its average consensus analyst price target of $45.70. The stock should discover initial support at its 50-day moving average (MA) of $41.85 and subsequent support at its 200-day MA of $38.68.
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.
SmarTrend recommended that subscribers consider buying shares of Dr Reddys Laboratories on September 5th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.42. Since that recommendation, shares of Dr Reddys Laboratories have risen 31.3%. 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