Nicholas Santiago
InTheMoneyStocks
Thursday, June 14, 2018
Mylan Drops After FDA Finds Deficiencies In Its Version of Advair, Watch This Level
Shares of the pharmaceutical giant, Mylan NV (NASDAQ:MYL), are falling by nearly 5.0 percent to $39.70 a share. The sharp decline in the stock comes after the FDA said that it found minor deficiencies in Mylan's generic version of Advair. Today, the stock is fighting to stay above its important 50 and 200-day moving averages. A close below these key support levels will signal further downside in the stock price. Either way, should the stock decline further from current levels the next major support area would be around the $35.00 area. This is where the stock broke out on early May 2018 and should be defended by the institutional crowd if retested.
