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Dr Reddys Laboratories: The Winning Streak Continues (RDY)

By Shiri Gupta

Shares of Dr Reddys Laboratories (NYSE:RDY) traded today at $47.96, breaking its 52-week high. Approximately 79,000 shares have changed hands today, as compared to an average 30-day volume of 247,000 shares.

In the past 52 weeks, shares of Dr Reddys Laboratories have traded between a low of $31.32 and a high of $47.96 and are now at $47.93, which is 53% above that low price. The 200-day and 50-day moving averages have moved 0.28% higher and 0.85% higher over the past week, respectively.

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.

There is potential upside of 1.7% for shares of Dr Reddys Laboratories based on a current price of $47.93 and an average consensus analyst price target of $48.75. The stock should discover initial support at its 50-day moving average (MA) of $44.03 and subsequent support at its 200-day MA of $42.62.

SmarTrend recommended that subscribers consider buying shares of Dr Reddys Laboratories on June 26th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.48. Since that recommendation, shares of Dr Reddys Laboratories have risen 13.8%. 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

Ticker(s): RDY