The USD 26.1 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, the P/E ratio is estimated to stand out at 14x for the current fiscal year, which is well below the average of its competitors. Moreover, its financial situation is healthy with a postive treasury. Finally, profitability is important with a net margin at 22% for 2013.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 26.1 area should stop this trend and allow a technical rebound towards USD 28.4. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Considering technical and fundamental elements, it seems to be an appropriate timing to immediately take a long position in Myriad Genetics in order to benefit from the USD 26.1 support area. A first target price will be the USD 28.4 resistance, ie a potential of 7.8%. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 28.4 would validate a bullish trend in order to aim a higher target price.
Myriad Genetics, Inc. is a genetic testing and precision medicine company. The Company develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. The Company is focused on three key areas where it has specialized products, capabilities, and expertise: Oncology, Women's Health and Mental Health. In oncology, it offers testing for patients who have cancer and companion diagnostic tests that work with corresponding drugs and treatments. It also offers the SneakPeek Early Gender DNA Test which can reveal a baby's gender as early as six weeks into pregnancy. The Companyâs testing products include MyRisk, BRACAnalysis, BRACAnalysis CDx, MyChoice CDx, Prolaris, EndoPredict, Foresight, Prequel, Precis Tumor Test, Precise Liquid Test, SneakPeek and GeneSight.
MYRIAD GENETICS, INC. 
