MYL - MYLAN07/16/2020 MYL
Sentiment Algo uses 'advanced big data analytics'. This stock has potential for a significant increase in volatility . This is not a buy/sell signal
Mylan
MYL - Worth Keeping on a Watch ListThe weekly chart for Mylan has broken out from a bearish trendline this week. We can see from the VPVR that there is not much volume resistance at these prices either. There is also a bullish divergence on the RSI. Relative strength has begun to improve too.
The price still needs to clear both a 50-EMA & 200-EMA & bulls would want to see a golden cross occur in the future. A lot of hurdles left for this stock to get over but this may be a name worth keeping on a watch list at least.
MYL Possible reversalMYLAN Labs after reaching historical lows, starts exhibiting reversal signs. Next week could serve as a good confirmation signal, but at these low levels some calls with a good time to develop sound like a good idea to me. I'll check it again during pre-market Monday, and decide.
MYL out of the bullish wedge new buy longThe price has closed above the downtrend line started this year with consistent volumes. I opened a buy as I am expecting increasing volume and strenght in the next sessions. Tps are already highlighted on the right.
MYL: wedge about to be completed$MYL: Bullish wedge is about to be completed as yesterday we have seen rising bullish pressure, actually price wasn't able to break out the upper edge and we have seen a sharp intraday pullback (about 3%). Today buyers are coming in, thus price is heading upper edge. Volumes are rising, MACD on a weekly basis turn positive. Test of mid and long term support as previously described positive too. Target prices highlighted in blue.
($MYL): Mylan weekly basis: bullish wedge in development$MYL after the earnings release has lost ground: investors actually pushed back the price yesterday with a massive bearish candle over -6%. Although the picture for generics look less positive than expected in the years to come, we should consider that demand for such goods is always "on" and today's prices (for these companies) are keeping such trend embodied. On a weekly basis, MYL is developing an interesting bullish wedge by using the hystorical downtred of 2015 as lower edge. The day before yesterday we reached out the price needed for drawing the upper edge as you can see in the chart.
Interesting opportunity would be buy and sell within the edge right now but keep in mind that the wedge is almost complete so new buy opportunities will be there once the price will get out of it.
A confirmation of such trend has been seen the day before yesterday: massive panic sell followed by massive buy: in a day we have touched the two edges with a distance of 9% roughly in between. This is important also to fix SL and TP if you want to enter right now.
MYL first signs of strenght for Mylan nice occasionsin the chart I highlighted the last bounce from the "hystorical support" at 35,40 dollars. I drew also the main downtrend line since 12/2015. This is an interesting point because 2 solid supports pass thorugh it and price is conferming this bullish area. Earnings are expected to come in two weeks but in any case this is a tempting occasion to go long with tight SL slighlty under 35,40 dollars.
MYL a buy opportunityAfter the breach of the multiyears downtrend prices have jumped till 47.68 dollars. We have seen a retracement according to the uptrend in progress. The price level around 39-40 is a stong support where a long can be setup. SL can be put a bit lower just underneath the MA 200 at 38 dollars. MA 200 is still under MA 50 and MACD is crossing over for a bullish setup. On top of that, price has reacted promptly after the NASDAQ sell off the day before yesterday.
Mylan Wedge BreakoutNASDAQ:MYL is breaking out of a wedge that it has been consolidating in for nearly four years. This wedge appears to be a retest of the breakout from resistance that occurred in 2013, which was followed by a large rally during the "biotech bubble". I expect the wedge breakout to take us back to the all-time highs, at a minimum, and potentially to $100/share.
Disclosure: I am long NASDAQ:MYL
Long $MYL here - Multi week Falling Wedge patternMylan is breaking out of Multi-Week falling wedge pattern here which goes back till 2015. Could be explosive once it gets going.
MYL setting up for bull runMonthly
Close above 38.15 will be progress on bullish change on monthly chart.
DMI -DI still up but ADX has been trending down signaling trend weakening
TRIX moving up but still below 0
Stoch coming off oversold readings and trending up
Weekly
Price has been consolidating since July of 2016. However, a buy trigger was signaled on 5/8/2017 at 38.94 and price has held at this level. Indicators are turning bullish.
Daily
Initial and primary buy signal at 35.59. With Friday's close, price has broken out of daily consolidation and indicators are bullish. A follow-thru on daily chart in the coming week will lend more credibility to the bullish bias.
Bottom Line : On Monday's open, if price moves up, a buy could be triggered here with a SL at 39.30. If price continues up this week as follow-thru, then month could end with a buy trigger if +DI crosses up over -DI on DMI
BUY MYL!Accumulating shares at this retest of recent breakout. $39.50 has been a powerful level for some time now.
Worst and best (Current) Case senario on $MYLRisky short term trade. Best and worst case scenario with targets for breakouts. Risky. If this lifts soon you know when to buy and sell.
MYL - 2nd opportunity to open a Long positionMYL rose from ~$25 in 2012 to ~$80 in 2015 with a 12months re-accumulation period in 2014. This re-acc period generated a price potential of ~$90, potential that has not been reached.
In mid 2015 the stock went through a short, 3 months, distribution phase that generated a price potential of $36 (a down move) - this target has been met in late 2016!
Starting rom late 2015 the stock is in an accumulation phase trading at a Trading Range between $35 and $55/ Two Springs, in Oct and Dec 2016, signal the beginning of a potential up-trend. The Springs are part of a narrow trading range ($35-$40) that generated a price potential of $54 - the top of the larger Trading Range. Price broke through the narrow trading range ($40) on Feb 13th - this was the 1st opportunity to get into a Long position. Price continued to rise to ~$45 and has since corrected down to ~$40 - the top of the narrow trading range. A price reversal above this level will create a 2nd opportunity to get into a Long position with ~$14 price increase potential in the short term. A further price target is $70.
Mylan - $MYL - LongMylan is in the buy zone of previous congestion/resistance. The stock is oversold in my opinion and we should see a bounce back towards 76.5 from here. We had move down yesterday on low volume which indicates weakness in the move and buyers should step back in soon.
Look for long entries on open, stops at 66.
