Myriad Genetics (NASDAQ:MYGN) crossed under its 10-day moving average of $30.27 on a volume of 229K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Myriad Genetics have traded between a low of $17.51 and a high of $31.80 and are now at $30.09, which is 72% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.1%.
Myriad Genetics, Inc. develops and markets molecular diagnostic products to provide physicians with information to help guide the care of their patients, to prevent disease, delay the onset of disease, or catch disease at an early stage.
There is potential upside of 0.9% for shares of Myriad Genetics based on a current price of $30.09 and an average consensus analyst price target of $30.36. The stock should discover initial support at its 50-day moving average (MA) of $27.36 and subsequent support at its 200-day MA of $25.24.
