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Myriad Genetics Set to Possibly Rebound After Yesterday's Selloff of 11.51%

By Shiri Gupta

Myriad Genetics (NASDAQ:MYGN) traded in a range yesterday that spanned from a low of $28.51 to a high of $30.84. Yesterday, the shares fell 11.5%, which took the trading range below the 3-day low of $31.55 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Myriad Genetics have traded between a low of $15.15 and a high of $41.57 and are now at $29.21, which is 93% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Myriad Genetics on February 5th, 2018 by issuing a Downtrend alert when the shares were trading at $35.24. Since that call, shares of Myriad Genetics have fallen 6.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders myriad genetics

Ticker(s): MYGN