Drug Stock Offers Double-Digit Return Potential

Mylan broke through a double-top to new highs on high volume and a buy signal

   
Drug Stock Offers Double-Digit Return Potential

Mylan (NASDAQ:MYL) — This major producer of generic pharmaceuticals has a record of acquisitions and internal growth that has led to its current position as the world’s third largest generic and specialty drug company. And its record of steady earnings growth is enviable. It reported $0.68 in 2010, $1.22 in 2011, $1.52 in 2012, and an estimated $2.90 in 2013 and $3.30 in 2014.

In mid-May, the stock broke through a double-top to new all-time highs on high volume and a buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR). MACD is bullish. The trading target for MYL is $36, but long-term investors will probably enjoy a higher return.

05 29 13 myl 300x183 Drug Stock Offers Double Digit Return Potential
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chart key 300x84 Drug Stock Offers Double Digit Return Potential

 


Article printed from InvestorPlace Media, http://investorplace.com/2013/05/trade-of-the-day-mylan-nasdaq-myl/.

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