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SmarTrend Watching for Potential Pullback in Shares of Mylan Nv After 2.42% Gain

By James Quinn

Mylan Nv (NASDAQ:MYL) traded in a range yesterday that spanned from a low of $39.03 to a high of $40.46. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $39.24 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Mylan Nv share prices have moved between a 52-week high of $50.40 and a 52-week low of $29.39 and are now trading 37% above that low price at $40.18 per share. 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 is tracking the current trend status for Mylan Nv and will alert subscribers who have MYL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders mylan nv

Ticker(s): MYL