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Mylan Bearish Moving Average Crossover Alert (MYL)

By James Quinn

Mylan (NASDAQ:MYL) shares have crossed bearishly below their 10-day moving average of $38.47 on a volume of 1.2 million 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.

In the past 52 weeks, shares of Mylan have traded between a low of $15.49 and a high of $76.68 and are now at $38.36, which is 148% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mylan on March 24th, 2017 by issuing a Downtrend alert when the shares were trading at $40.76. Since that call, shares of Mylan have fallen 5.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Mylan

Ticker(s): MYL