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.
Take a look at the 1-year chart of Myriad (Nasdaq: MYGN) with the added notations:

MYGN shot higher back in the beginning of the year, but has since traded sideways. You will notice that since March the stock has found support at $32 (blue) whenever that level has been approached. Now the stock is almost there again. Traders should be able to expect some sort of bounce, most likely up to $34 (red), and then $40 (green) if that resistance is broken.
However, if the $32 support were to break, much lower prices should follow.

The Tale of the Tape: MYGN has a key level of support at $32. A trader could enter a long position at $32, or on a break above $34, with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.
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