PinnyC
Long

MYL - 2nd opportunity to open a Long position

NASDAQ:MYL   MYLAN NV
35 views
5
35 0
MYL 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.
Comment:
Comment:
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out