Myovant Sciences Ltd Forecast and Stock Analysis
Technical MYOV stock analysis for March 19, 2019.
|Shorts||20.99% ( 2019-02-28 )|
Myovant Sciences Ltd gained 2.04% in the last trading day, rising from $22.51 to $22.97 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days , but is still down by -0.17% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 7 348 more shares were traded than the day before. In total, 35 097 shares bought and sold for approximately $806 178.00.
Close price at the end of the last trading day (Tuesday, 19th Mar 2019) of the MYOV stock was $22.97. This is 2.04% more than the trading day before Monday, 18th Mar 2019.
During day the stock fluctuated 3.17% from a day low at $22.37 to a day high of $23.08.
30 day high of the MYOV stock price was $24.34 and low was $20.67.
90 day high was $24.34 and low was $14.32.
52 week high for the Myovant Sciences Ltd - $27.45 and low - $14.32.
Myovant Sciences Ltd lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 44.81% during the next 3 months and, with 90% probability hold a price between $31.76 and $35.18 at the end of this period.
Only positive signals in the chart today. Myovant Sciences Ltd holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $22.36 and $21.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 14, 2019, which indicates further gains until a new top pivot has been found. Myovant Sciences Ltd has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $21.44 and $19.57.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Myovant Sciences Ltd finds support just below today's level at $21.44. If this is broken, then the next support from accumulated volume will be at $19.57 and $17.59.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.71 (3.17%) between high and low. For the last week, the stock has had a daily average volatility of 3.20%.
Our recommended stoploss: $21.87 (-4.81%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
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Evaluation: Strong Buy Candidate
Myovant Sciences Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.