Myer Holdings Limited (MYR.ASX)

21 November 2018


Technical Summary: The long term trend for the stock of MYR as evidenced by the 5 year chart is down. The stock has pretty consistently gone from the top left to the bottom right of the screen. However, it is more difficult to get a read on things from a one year perspective. On the left side of the one year chart you have the tailend of the downtrend that looks to have bottomed at just below $0.40 per share. Since that time the stock has been attempting to consolidate. On a couple of occasions the stock has looked to take off only to be cut down quite quickly by heavy selling. In the last few trading sessions the stock has gapped down after a negative sales update. This suggests that it probably requires more time.

Difficult chart to get a read on. However there is some interesting price action

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