Myriad Genetics, Inc. (NASDAQ: MYGN)

Myriad Genetics, Inc., a molecular diagnostic company, focuses on the development and marketing of predictive, personalized, and prognostic medicine tests in the United States and internationally. The company operates through three segments: Research, Molecular Diagnostics, and Pharmaceutical and Clinical Services. The company’s molecular diagnostic tests are designed to analyze genes; diagnose diseases, expression levels, and proteins to assess an individual’s risk for developing disease later in life; determine a patient’s likelihood of responding to a particular drug; and assess a patient’s risk of disease progression and disease recurrence.
Take a look at the 1-year chart of Gilead (Nasdaq: MYGN) below with my added notations:

MYGN has formed a solid resistance at $40 (red), which would also be a 5-month high if the stock could manage to break above it. In addition, the stock is climbing a short term, up-trending support level (blue) over the last 4+ months.
These two levels combined have MYGN stuck within a common chart pattern known as an ascending triangle. Eventually, the stock will have to break one of those levels. A break above $40 would most likely lead to a test of the $42.50 high (green)

The Tale of the Tape: MYGN has an uptrending support and a $40 resistance level to watch. A long trade could be made on a pullback to the trendline, or on a breakout above $40. A break below the uptrending support would be an opportunity to enter a short trade.
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