Mylan Inc., a pharmaceutical company, develops, licenses,
manufactures, markets, and distributes generic, branded generic, and
specialty pharmaceuticals worldwide. It operates in two segments,
Generics and Specialty. The Generics segment primarily provides generic
or branded generic pharmaceutical products in tablet, capsule,
injectable, or transdermal patch form, as well as active pharmaceutical
ingredients. The Specialty segment manufactures and sells branded
specialty injectable and nebulized products comprising EpiPen
Auto-Injector for the treatment of severe allergic reactions; and
Perforomist Inhalation Solution, a formoterol fumarate inhalation
solution for the maintenance treatment of bronchoconstriction in chronic
obstructive pulmonary disorder patients.
Take a look at the 1-year chart of Mylan (Nasdaq: MYL) with the added notations:
Over the last 6 months MYL has formed a key level of support at $45
(blue). In addition, the stock has created a down trending resistance
(red) starting from the beginning of March. The stock has just recently
tested the support and may be on its way back up to resistance again. At
some point, MYL will have to either break support or break its
trendline.
The Tale of the Tape: MYL has formed a key support
and down trending resistance. Long trades could be made on either a
pullback to $45 or on a break through the down trendline. Short trades
could be made on a break of the $45 support level or on a rally up to
the down trending resistance.
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