When asked about generic drug maker Teva Pharmaceuticals (TEVA) during the fast paced "Lightning Round" on Tuesday night's "Mad Money" program, TheStreet's Jim Cramer said, "In that genre, we like Mylan N.V. (MYL) more."
A recommendation from Jim Cramer of MYL is a good place to start but let's do a quick check of the charts and indicators to see if this is a good time to approach the long side of MYL.
In this daily bar chart of MYL, below, we can see a downtrend from January to October but this could be a different story on the weekly chart. Prices are below the declining 50-day moving average line and rallies from August have all stopped short of the bearish 200-day moving average line.
The daily On-Balance-Volume (OBV) line shows what I think is a very bullish pattern. Over the past 12 months the OBV has risen even though the price of MYL has declined. A rising OBV line when a stock is falling suggests to me that buyers of MYL have been scale-down buyers.
The Moving Average Convergence Divergence (MACD) oscillator just crossed to the upside of the zero line for an outright go long signal.
In this weekly bar chart of MYL, below, we can view the price action at least two ways.
One way is too see a downtrend over the past three years but prices have not made a new low since late 2017.
Another way to look at this chart is to imagine a double bottom pattern of sorts. We have a low in August of 2017 and another low in October of 2018. This large reversal pattern will not be complete until a rally above $48, but if we wait for that to happen we will miss most of the move. Prices are below the flat 40-week moving average line but a close above $38 would break the line.
The weekly OBV line has made a low in October which is just slightly higher than the September low of 2017.
The weekly MACD oscillator is ready to cross to the upside for a cover shorts buy signal.

In this weekly Point and Figure chart of MYL, below, we can see a long-term price target of $50.92. Strength above $39.78 is needed to turn this chart more bullish.
Bottom line strategy: MYL may try to fill the upside price gap made earlier this month. Traders could consider buying that possible weakness risking a close below $30. Traders who prefer to buy strength could go long above $38 will be risking below $35.