Myer Holdings Limited (MYR.ASX)

19 December 2017

Technical Summary: It is a pretty depressing 5 year picture for long term holders of MYR stock as the stock has found a way to find new lows. This trend continued in 2017 with the stock beginning the year on a sharp downtrend. From July it appeared that the stock was rounding out a bottom. A red flag here however was that the stock was never able to find a higher low as sellers kept the stock beaten down. More recently the stock has found further downside as it broke through the support line. The trend is down and there is no reason to buy here unless you are looking for potential short term mean reversion or if you are bottom picking.

Bad year for MYR continues

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