10/22/99
Myriad Genetics (MYGN)
Points to watch:
After building a solid base from
September 1998-August 1999, Myriad Genetics has rallied over the past 2
months and is near important resistance.
Technical indicators have confirmed each
step of the stock's recent rally: daily MACD gave a buy signal on 7/21,
weekly OBV and stochastics are rising sharply and are at new highs.
Yesterday the stock traded in a 2 point
range, touching resistance at 19.88 ( a level which marked the high on
10/21 and acted as support from 3/98-5/98), before settling back to close
at 18.75. A buy signal would be given on a break above 19.88.
We would use the 21-day moving average (17.6), which provided support in
August and September, as a trailing stop.
