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MYR 50.0¢

MYR Saxo commentary

  1. Riskup

    1,521 Posts.
    From Saxo today:

    New Trade
    Myer (Ticker: MYR:xasx): After reaching a record low in its share price in mid-December, Myer Holdings has been caught in a consolidation phase and is now forming an ascending triangle which translates into a bullish formation. This ascending triangle appears to indicate a reversal pattern to Myer's fall. (Note: MYR is scheduled to report its interim results on March 19 when we expect to see strong results following Christmas sales).

    Today's Trade: Buy on stop MYR at $1.595 (January 22 high) with limit $1.61. First profit target is at $1.69 (6%) and second profit target at $1.76 (10.3%). Stop loss set at $1.52 (4.7%).

    Myer will report its interim results in March, when strong results are expected following Christmas sales


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