

Technical Summary: There hasn’t been much to like about the MYR stock over the last 5 years. As it has been stuck a down trend that has been common amongst retail stocks. The stock had a reasonable 2016 as it tried to stage a comeback. This was short lived and the company has had a pretty mediocre 2017, spending most of its time camped well below its 50-day moving average. The stock has recently given investors hope, sticking its periscope up above the 50 day line. It has done this a couple of times this year only for it to fail and break down. There is no reason to think this will not happen again so technically the stock is not buyable right now. Although we do view it as a positve that the stock could have rounded out a bottom. We have crudely drawn a couple of scenarios that would make the stock buyable with the blue and black lines. Either we would like to see some sideways digestion before breaking out (blue) with the stock becoming buyable on the breakout. Or we would like to see the stock pull back to a higher low (black line) with the stock becoming buyable as it retakes its previous high. If the periscope breaks down it will be bearish.