Myriad Genetics Stock Forecast
Red day on Thursday for Myriad Genetics
(Updated on Mar 28, 2024)
The Myriad Genetics stock price fell by -0.374% on the last day (Thursday, 28th Mar 2024) from $21.40 to $21.32. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.36% from a day low at $21.17 to a day high of $21.67. The price has fallen in 7 of the last 10 days. Volume has increased on the last day by 93 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 560 thousand shares were bought and sold for approximately $11.95 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.37% during the next 3 months and, with a 90% probability hold a price between $23.49 and $28.69 at the end of this 3-month period.
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MYGN Signals & Forecast
There are few to no technical positive signals at the moment. The Myriad Genetics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $21.85 and $22.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -9.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Myriad Genetics stock
Myriad Genetics finds support from accumulated volume at $21.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.500 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MYGN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Myriad Genetics to open at $21.39, and during the day (based on 14 day Average True Range), to move between $20.44 and $22.20, which gives a possible trading interval of +/-$0.88 (+/-4.12%) up or down from last closing price. If Myriad Genetics takes out the full calculated possible swing range there will be an estimated 8.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.16 (0.75%) than the resistance at $21.61 (1.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Myriad Genetics stock A Buy?
The Myriad Genetics stock holds several negative signals and despite the positive trend, we believe Myriad Genetics will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.589 Sell Candidate Unchanged
Predicted Opening Price for Myriad Genetics of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$21.39 ( 0.312%) | $21.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYGN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.89 | 2.66 % | |
R2 | 21.70 | 1.76 % | ||
R1 | 21.58 | 1.21 % | ||
Current price: | 21.32 | |||
Support | S1 | 21.20 | -0.584 % | |
S2 | 21.08 | -1.14 % | ||
S3 | 20.89 | -2.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.50 | 10.23 % | |
R2 | 22.24 | 4.32 % | ||
R1 | 21.61 | 1.36 % | ||
Current price | 21.32 | |||
Support | S1 | 21.16 | -0.750% | |
S2 | 20.93 | -1.83% | ||
S3 | 19.75 | -7.36% |
MYGN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 01, 2009 | Jul 01, 2009 | Jul 01, 2009 | $1.75 | 6.73% |
2 | Jun 15, 2009 | Jun 15, 2009 | Jun 15, 2009 | $1.75 | 4.93% |
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