After Yesterday's Rally of 2.14% Shares Could Potentially Pullback
Impax Laboratories (NASDAQ:IPXL) traded in a range yesterday that spanned from a low of $23.97 to a high of $24.92. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $24.70 on volume of 219,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Impax Laboratories has traded in a range of $20.97 to $52.10 and is now at $24.83, 18% above that low. The 200-day and 50-day moving averages have moved 0.87% lower and 0.04% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Impax Laboratories on June 21st, 2016 by issuing a Downtrend alert when the shares were trading at $28.86. Since that call, shares of Impax Laboratories have fallen 15.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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