Mylan Wedge Breakout

19 de dez. de 2017

NASDAQ:MYL is breaking out of a wedge that it has been consolidating in for nearly four years. This wedge appears to be a retest of the breakout from resistance that occurred in 2013, which was followed by a large rally during the "biotech bubble". I expect the wedge breakout to take us back to the all-time highs, at a minimum, and potentially to 100/share.

Disclosure: I am long NASDAQ:MYL

9 de jan. de 2018

Nota

We appear to have found resistance at the $45 pivot from the March 2017 high. This is the perfect area to consolidate some of the recent gains in the short-term before continuing higher over the long-term. I plan to continue holding my position in Mylan as the long-term charts continue to look bullish.

22 de jan. de 2018

Trade ativo

The Mylan trade continues to perform as expected. We are to the point of being overbought on the 3 day chart, therefore a consolidation or light pullback is a high probability. Remember, this trade was a set up on the monthly charts, so don't try to trade the small ups and downs. I continue to expect at least a retest of the all-time highs, so for now, treat each small decline as another buying opportunity.

22 de jan. de 2018

Trade ativo