MYGN is another nice Flag formation with beautiful moneyflow accumulation. Anything close to $18 would be a good entry point or break of current label
* Trade Criteria *
Date First Found- February 19, 2017
Pattern/Why- Flag formation
Entry Target Criteria- Near $18 or Break of $18.67
Exit Target Criteria- Momentum
Stop Loss Criteria- $16.83
Please check...
As the price is revisiting the US$18.76 resistance, we may expect a short term pullback.
However, overall trend can be considered as positive. We may look for opportunity around the US$17-US$18 levels for accumulation.
Target: US$21.40-22.40, US$26.15-US$28.58.
Support: US$16.47
MYGN took a beating after it's guidance underwhelm last quarter.
I do believe that the reaction was overdone.
MYGN has healthy revenue streams and growing drug and generics demand.
TA confirms a re-entering into trading range of:
PT 1: $25.00 for a ~20%+ return.
PT 2: $30.00 for a 50% return.
