Monthly Close above 38.15 will be progress on bullish change on monthly chart. DMI -DI still up but ADX has been trending down signaling trend weakening TRIX moving up but still below 0 Stoch coming off oversold readings and trending up Weekly Price has been consolidating since July of 2016. However, a buy trigger was signaled on 5/8/2017 at 38.94...
Accumulating shares at this retest of recent breakout. $39.50 has been a powerful level for some time now.
MYL rose from ~$25 in 2012 to ~$80 in 2015 with a 12months re-accumulation period in 2014. This re-acc period generated a price potential of ~$90, potential that has not been reached. In mid 2015 the stock went through a short, 3 months, distribution phase that generated a price potential of $36 (a down move) - this target has been met in late 2016! Starting rom...
$MYL - short setup - (hourly Chart) - DayTrade
Hillary Clintons latest against Myland should continue to drop the bio sector. Expecting early Monday dip, then rebound. Safe entry $24.50, risky appetite at $22.75. Price target $32.
Mylan is in the buy zone of previous congestion/resistance. The stock is oversold in my opinion and we should see a bounce back towards 76.5 from here. We had move down yesterday on low volume which indicates weakness in the move and buyers should step back in soon. Look for long entries on open, stops at 66.