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Mylan Nv Rises 2.59% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Mylan Nv (NASDAQ:MYL) traded in a range yesterday that spanned from a low of $21.02 to a high of $21.50. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $21.14 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Mylan Nv have traded between a low of $17.02 and a high of $45.87 and are now at $21.59, which is 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Mylan Nv on December 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.45. Since that recommendation, shares of Mylan Nv have risen 9.0%. We continue to monitor MYL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders mylan nv

Ticker(s): MYL