Mylan Laboratories (MYL) NewsBite - MYL Hits 52-Week High

Posted: Wednesday, November 04, 2009 1:35 PM EDT

Mylan Laboratories (NasdaqNM: MYL) hit a new 52-Week high of $17.17 so far today. Currently the stock is up $0.37 (2.22%) to $17.06 on 8,765,999 shares traded. Today's high is up $9.97 from a 52-Week Low of $7.09. Mylan Laboratories stock has been showing support around $15.93 and resistance in the $17.11 range. Technical indicators for the stock are bullish and S&P gives MYL a positive 5 STARS (out of 5) strong buy ranking. The stock is up nicely today, and rose to new 52 week high earlier in the session. The company reported better than expected earnings last week. If you are looking for a hedged play on MYL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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