Thursday, May 16, 2019 1:26:14 PM
Shares of Mylan NV (MYL) have collapsed in the last two weeks, falling from over $28/share to under $20.00/share. This drop is a continuation of the down-trend which started when the stock was $48/share in early 2018. While nasty and ugly, pro traders are starting to take interest after Mylan put in a strong bottoming tail yesterday. Bottoming tails are bullish reversal signals. This means there is likely a near-term pop in the stock. Based on technical charts, Mylan has upside back to $26 before running into major resistance. Pro traders are moving into the stock, looking for this pop.
Gareth Soloway
InTheMoneyStocks
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