Is Selling Dr. Reddy's Laboratories Limited (RDY) Here a Winning Strategy?

May 16, 2018 - By Samual Williams

Dr. Reddy's Laboratories Limited (NYSE:RDY) Logo

The stock of Dr. Reddy's Laboratories Limited (NYSE:RDY) hit a new 52-week low and has $26.86 target or 8.00 % below today’s $29.20 share price. The 6 months bearish chart indicates high risk for the $4.74 billion company. The 1-year low was reported on May, 16 by If the $26.86 price target is reached, the company will be worth $378.88 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 1.18% or $0.35 during the last trading session, reaching $29.2. About 628,224 shares traded or 92.08% up from the average. Dr. Reddy's Laboratories Limited (NYSE:RDY) has declined 18.86% since May 16, 2017 and is downtrending. It has underperformed by 30.41% the S&P500.

Dr. ReddyÂ’s Laboratories Limited operates as an integrated pharmaceutical firm worldwide. The company has market cap of $4.74 billion. It operates through three divisions: Global Generics, Pharmaceutical Services and Active Ingredients , and Proprietary Products. It has a 31.77 P/E ratio. The Global Generics segment makes and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosage with therapeutic equivalence to branded formulations.

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