NASDAQ:MYOK', 'MyoKardia Inc.', 'http://weeklyregister.com/weekly-register-logo.png');

Bearish Chart Formation for MyoKardia, Inc. (MYOK) After Forming Wedge Down Chart Pattern

December 7, 2017 - By Clifton Ray

The stock of MyoKardia, Inc. (MYOK) formed a down wedge with $35.57 target or 4.00 % below today’s $37.05 share price. The 9 months wedge indicates high risk for the $1.32 billion company. If the $35.57 price target is reached, the company will be worth $52.96M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 11.60% or $3.85 during the last trading session, reaching $37.05. About 669,978 shares traded or 65.03% up from the average. MyoKardia, Inc. (NASDAQ:MYOK) has risen 11.16% since December 8, 2016 and is uptrending. It has underperformed by 5.54% the S&P500.

Analysts await MyoKardia, Inc. (NASDAQ:MYOK) to report earnings on March, 12. They expect $-0.39 earnings per share, down 188.64 % or $0.83 from last year’s $0.44 per share. After $-0.42 actual earnings per share reported by MyoKardia, Inc. for the previous quarter, Wall Street now forecasts -7.14 % EPS growth.

MyoKardia, Inc. (NASDAQ:MYOK) Ratings Coverage

Among 5 analysts covering MyoKardia (NASDAQ:MYOK), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. MyoKardia had 5 analyst reports since November 23, 2015 according to SRatingsIntel. As per Wednesday, July 20, the company rating was initiated by BMO Capital Markets. The rating was initiated by Credit Suisse with “Outperform” on Monday, November 23. On Friday, December 4 the stock rating was initiated by Wells Fargo with “Outperform”. The firm has “Outperform” rating by Cowen & Co given on Monday, November 23. The firm has “Outperform” rating by Wedbush given on Monday, November 23.

More news for MyoKardia, Inc. (NASDAQ:MYOK) were recently published by: Globenewswire.com, which released: “MyoKardia Presents Data from Study of Machine Learning Algorithm Intended to …” on November 14, 2017. Fool.com‘s article titled: “Here’s Why Myokardia Inc. Stock Shot Up Today” and published on August 07, 2017 is yet another important article.

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