Hubert Senters here.
Hey, this is Mark standing in for Hubert again on Thursday December 5th taking a look at the stock market scan that we have. MYL is one of the stocks that’s been flashing a bullish, bullish watch effective yesterday and you can see that we did have an upmove yesterday.
So if I pull up the chart here of MYL we can see that it’s working on a daily set-up called the elevated cycle low right here in the cycle indicator which projects higher so I’d be surprised if we don’t see MYL hit, you know, rally another 5 percent or so and hit these $20 per share here in the not too distant future. So more upside is expected there.
And again this is shaping up quite nicely. Now, if you look at the breakout indicator I showed you earlier in the week this actually caught the move yesterday very nicely. You’ll note the green bars here, the top tick trader was flashing green which indicates that there is more broad based buying on the New York Stock Exchange right after the open here of yesterday’s session prices rallied hit the buy signal right there the solid green line and then went on to hit profit target one almost hit profit target two and then corrective back down.
So still closed very positive and was a nice trade but there should be more upside potential here. Again, I think my near-term profit is right around $20 per share so we’ll see what happens and continue to follow the stock and put this on your watch list because it is a stock that’s one of the stronger stocks right now especially in the daily set-up.
Thanks for watching and good luck trading.