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Myriad Genetics Set to Possibly Rebound After Yesterday's Selloff of 41.19%

By James Quinn

Myriad Genetics (NASDAQ:MYGN) traded in a range yesterday that spanned from a low of $25.53 to a high of $29.17. Yesterday, the shares fell 41.2%, which took the trading range below the 3-day low of $41.41 on volume of 7.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Myriad Genetics has traded in a range of $22.07 to $50.44 and is now at $25.58, 16% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.4%.

SmarTrend recommended that subscribers consider buying shares of Myriad Genetics on July 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.87. Since that recommendation, shares of Myriad Genetics have risen 59.8%. We continue to monitor MYGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders myriad genetics

Ticker(s): MYGN