Shares of Mylan (MYL) are in a sharp slide and may continue to do into September. Epipen Dive:- The drug maker came under fire after raising the price of a life-saving allergy medicine before a generic version is on the market. - Our friend Market Holder here at whotrades believes we should "Fade Any Rally", which I agree with - maybe not ANY, but basically the outlook is the same.- The 4H chart shows that price has retreated sharply from 50.00. - Let's take a look at some technical levels to prepare for this fade-the-rally strategy. MYL 4H Chart 8/26(click to enlarge)Resistance levels:- R1: We can expect selling if price returns to 44.00. It is a psychological level and a previous support/resistance pivot. - R2: If price pushes above 44.00 on the other hand, there is a pivot around 45. - R3: Above that I think 45.85 should be the most aggressive bullish outlook at the moment. Support levels:- S1 (Target 1): The 41.60-42 area is the near-term target. We might see some support here but I think it is vulnerable.- S2 (T2): Below 41.60, there is a support pivot around 40.00. We might start seeing more buying starting here.- S3 (T3): If price is going to slide back to the low of the year, 38.05 is in sight. The 38 area is a 2-year support and thus should provide some relatively strong buying. The bearish bias:- It should be noted that price action has been sideways in 2016, part of a consolidation that started mid-2015.- We can see on the daily chart that this consolidation itself has some bearish bias, and that the prevailing trend has been bearish.- Therefore, the bearish outlook is in-line with the bias that already exists.MYL Daily Chart 8/26(click to enlarge)