mikebiz
Long

MYL setting up for bull run

NASDAQ:MYL   MYLAN NV
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Monthly
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





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