MYRIAD GENETICS INC (MYGN)       23.72  +0.09 (+0.38%)

23.72  +0.09 (+0.38%)

US62855J1043 - Common Stock - After market: 23.72 0 (0%)

Technical Rating

8

We assign a technical rating of 8 out of 10 to MYGN. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MYGN is only an average performer.



The long and short term trends are both positive. This is looking good!
MYGN is one of the better performing stocks in the Biotechnology industry, it outperforms 88% of 639 stocks in the same industry.
MYGN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Looking at the yearly performance, MYGN did better than 94% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
MYGN is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 27.94% 51.66% 26.91% -6.39% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 94.29 13.92 - 28.18
MYGN Weekly chart
MYGN Daily chart

Support/Resistance Analysis


20.34

28.07
We found 3 important support areas.
  • A support zone ranging from 23.21 to 23.64. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
  • A support zone ranging from 21.23 to 21.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • A support zone ranging from 20.55 to 20.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 2 important areas.
  • A resistance zone ranging from 23.73 to 23.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @27.79 from a horizontal line in the weekly time frame.

Setup Analysis

Setup Rating

6

Besides having an excellent technical rating, MYGN also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 23.73. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.64, a Stop Loss order could be placed below this zone.


Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
23.7623.200.56 (2.36%)25.00%
An entry @23.76. This is a Buy Stop order right above the resistance zone.An exit @23.20. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 0.56 points, which is 2.36%.For a 0.59% total portfolio risk, you can invest 25.00% of your capital in this trade.

  • The distance between exit and entry is rather small compared to the average daily movement of MYGN. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
MYGN Daily chart

MYRIAD GENETICS INC23.72

NASDAQ:MYGN (3/24/2023, 8:00:00 PM)+0.09 (+0.38%)

After market: 23.72 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
Today0.38%
1 Week2.77%
2 Weeks11.73%
1 Month27.94%
3 Month51.66%
6 Month26.91%
Volatility
ATR(14)1.04
ATR(20)%5.23%
ATR Inc-13.16%
Range Today0.64
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS94.29
Mansfield1.5
10 Day High24.05
10 Day Low20.76
20 Day High24.05
20 Day Low18.31
52 Week High28.18
52 Week Low13.92
CS1 End23.64
CR1 Start23.73
Volume & EV
DER(3)1.97%
DER(5)0.32%
Volume424.60K
Volume Incr-40.86%
Vol(5)480.78K
Vol(50)622.79K

Technical Stock Screener Links

Screen Image

Technical Stock Screener

Find stocks with similar TA and Setup ratings on the USA

Screen Image

Best Technical Competitors Stock Screener

Find the competitors with the best technical ratings on the USA

Screen Image

Best Technical Setups Competitors Stock Screener

Find the competitors with the best technical and setup ratings on the USA