Shares of Mylan Has Risen Above Previous 52-Week High
Mylan (NASDAQ:MYL) traded today at a new 52-week high of $28.85. So far today approximately 1 million shares have been exchanged, as compared to an average 30-day volume of 5.4 million shares.
Mylan, Inc. develops, licenses, manufactures, markets, and distributes generic, brand and branded generic pharmaceutical products and active pharmaceutical ingredients . The Company sells its products to wholesalers, distributors, retail pharmacy chains, mail order pharmacies, group purchasing organizations, and healthcare professionals.
There is potential upside of 5.0% for shares of Mylan based on a current price of $28.82 and an average consensus analyst price target of $30.27. The stock should discover initial support at its 50-day moving average (MA) of $27.67 and subsequent support at its 200-day MA of $24.10.
Over the past year, Mylan has traded in a range of $15.49 to $28.85 and is now at $28.82, 86% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.5%.
SmarTrend recommended that subscribers consider buying shares of Mylan on July 16th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.15. Since that recommendation, shares of Mylan have risen 27.6%. We continue to monitor MYL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows Mylan