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Mylan (MYL) Breaks Through Support at $27.73
[January 08, 2013]

Mylan (MYL) Breaks Through Support at $27.73

Jan 08, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Mylan (NASDAQ:MYL) opened today below their pivot of $27.93 and have already reached the first level of support at $27.73. Analysts will be watching for a cross of the next downside pivot targets of $27.54 and $27.15.

Mylan has overhead space with shares priced $27.60, or 7.0% below the average consensus analyst price target of $29.69. The stock should discover initial support at its 50-day moving average (MA) of $26.77 and subsequent support at its 200-day MA of $23.66.

In the past 52 weeks, shares of Mylan have traded between a low of $15.49 and a high of $28.50 and are now at $27.60, which is 78% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.


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 26.0%. We continue to monitor MYL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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