Myriad Genetics Bullish Moving Average Crossover Alert (MYGN)

Print Share

Dec 18, 2012 (Moving average crossovers via COMTEX) -- Myriad Genetics (NASDAQ:MYGN) shares have crossed bullishly above their 10-day moving average of $27.43 on a volume of 240K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.In the past 52 weeks, Myriad Genetics share prices have been bracketed by a low of $17.51 and a high of $31.80 and are now at $27.55, 57% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 0.17% lower over the past week, respectively.

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 14.5% for shares of Myriad Genetics based on a current price of $27.55 and an average consensus analyst price target of $31.55. Myriad Genetics shares should encounter resistance at the 50-day moving average (MA) of $28.12 and support at its 200-day MA of $25.80.


Financial News Network Online (FNNO) is a leading provider of digital financial news content for distribution on the web. You can count on FNNO to bring you the latest market news, earnings reports, analyst comments, economic data reports and more. Visit today.

Copyright, Comtex News Network, Inc. 2012

Free Stock Analysis From Zacks

Includes Zacks Long-Term Recommendation and Target Price

Zacks Research is Reported On:

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.