Sector Round Up - Pharmaceuticals Rise: SNY, TEVA, KG

Published on Wednesday, 08 September 2010 13:13 Written by Christian Paolinetti

New York, September 8th (TradersHuddle.com) - At the half of the trading session tha market is trading higher with the S&P 500 adding 0.88%. Stocks of Pharmaceutical Companies are also trading higher, with NYSE Drug index at 295.46, which represents 0.92% versus the previous tradings session close. The Drug index is having a broad rally with 15 out of 15 components trading higher.

So far the sector's top performer today is Sanofi-Aventis (NYSE:SNY) currently trading at $30.38 representing 2.17%. versus the previous trading session price action. Sanofi-Aventis , the Paris, France based global pharmaceutical company, shares have defined support at $28.03 and resistance at $30.21.

Teva (NASDAQ:TEVA) is also among the top performers, currently trading at $54.19 representing 2.01% from its previous close. Teva, the largest generic drug maker in the world has calculated support and resistance levels at $46.99 and $50.78 respectively. The other top performer is King Pharmaceuticals (NYSE:KG), which is trading at $9.19 representing 1.43% from the previous trading session.

The sector's worst performer at the mid point of the trading session is Forest Laboratories (NYSE:FRX) that is trading at $29.49 or 0.14% from the previous close. Forest Laboratories, the maker of branded and generic forms of ethical drug products shares have defined support at $26.92 and resistance at $28.78. Also among the worst performers is Abbott Labs (NYSE:ABT), which is trading at $50.68 representing 0.38% from the previous trading session.