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Look for Shares of Myriad Genetics to Rebound after Yesterday's 0.58% Sell Off (MYGN)

Written on Tue, 07/20/2010 - 3:02am
By Chip Brian

Myriad Genetics (NASDAQ:MYGN) traded in a range yesterday that spanned from a low of $15.29 to a high of $15.50. Yesterday, the shares fell 0.58%, which took the trading range below the 3-day low of $15.31 on volume of 512,000 shares.
Shares of Myriad Genetics are currently trading below their 50-day moving average (MA) of $17.06 and below their 200-day MA of $22.38. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Myriad Genetics and our subscribers were alerted to Sell on April 21, 2010 at $22.63. The stock has fallen 32% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $15.39 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Diagnostic Substances industry.

Keywords: myriad genetics trading range stock news

Ticker(s): MYGN

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