Tuesday, August 23, 2016

MyoKardia - Chart of the Day

MyoKardia (MYOK) is the Barchart Chart of the Day.  The biopharmaceutical company has a Trend Spotter buy signal, a Weighted Alpha of 138.50+ and gained 187.60% in the last 6 months.

The Chart of the Day belongs to MyoKardia (MYOK).  I found the biopharmaceutical stock by using Barchart to sort the Russell 3000 Index stocks first for the highest Weighted Alpha, then again for technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy on 7/12 the stock gained 16.93%.

MyoKardia, Inc. is a biopharmaceutical company. The company focuses on discovering, developing, and commercializing therapies for the treatment of serious and neglected rare cardiovascular diseases. Its product candidate consists of MYK-461, a small molecule to reduce excessive cardiac muscle contractility leading to hypertrophic cardiomyopathy, DCM-1, treats heritable dilated cardiomyopathy by restoring normal contractility in the diseased DCM heart, HCM-2, a product candidate to reduce cardiac muscle contractility to normal levels in HCM patients and LUS-1, which is intended to counteract a muscle disruption that results in impaired relaxation of the heart, which are in different clinical trial. MyoKardia, Inc. is headquartered in San Francisco, California.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 32.63% in the last month
  • Relative Strength Index 77.17%
  • Technical support level at 19.36
  • Recently traded at 20.65 with a 50 day moving average of 16.02
Fundamental factors:
  • Market Cap $558.38 million
  • Newly followed by Wall Street so no Revenue and Earnings consensus yet.
  • Wall Street analysts issued 4 strong buy recommendations on the stock

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