Watson Pharmaceuticals Bulls in Charge

Shares of Watson Pharmaceuticals, Inc. (NYSE:WPI) booked a new 52 week high today by trading above $53.75, traders are definitely monitoring Watson's price action to see if this move attracts further buying into the stock.

Watson Pharmaceuticals, Inc. (NYSE:WPI) develops, manufactures, and sells generic and brand name pharmaceutical products. The Company's core focus is specialty products, nephrology, urology, and generic products.

Watson Pharmaceuticals is currently trading 1.1% versus its previous trading session close, and it has calculated support and resistance at $48.20 and $53.75 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.36% from its previous trading close, which means that Watson Pharmaceuticals stock is outperforming the overall market.

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