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Shares of Mallinckrodt Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Mallinckrodt (NYSE:MNK) traded today at a new 52-week low of $9.14. So far today approximately 6.2 million shares have been exchanged, as compared to an average 30-day volume of 2.4 million shares.

Mallinckrodt has overhead space with shares priced $9.14, or 51.9% below the average consensus analyst price target of $19.00. The stock should run into initial resistance at its 50-day moving average (MA) of $19.70 and subsequent resistance at its 200-day MA of $24.11.

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally.

Over the past year, Mallinckrodthas traded in a range of $9.14 to $36.65 and are now at $9.14. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2%.

SmarTrend is tracking the current trend status for Mallinckrodt and will alert subscribers who have MNK in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows mallinckrodt

Ticker(s): MNK