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Watch for Mylan Nv to Potentially Rebound After Falling 8.06% Yesterday

By Nick Russo

Mylan Nv (NASDAQ:MYL) traded in a range yesterday that spanned from a low of $18.06 to a high of $19.32. Yesterday, the shares fell 8.1%, which took the trading range below the 3-day low of $18.83 on volume of 6.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Mylan Nv have traded between a low of $16.63 and a high of $42.50 and are now at $18.14, which is 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.8%.

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