• Return to Headlines

Mylan Crosses Above its 10-day MA (MYL)

By Nick Russo

Mylan (NASDAQ:MYL) shares have crossed bullishly above their 10-day moving average of $38.43 on a volume of 7.9 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher 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 $39.20, which is 153% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mylan on August 24th, 2016 by issuing a Downtrend alert when the shares were trading at $44.39. Since that call, shares of Mylan have fallen 19.0%. 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