Second Day (MYGN)

One of the plays that we teach our traders is called a Second Day Play.  Today we had such a play with MYGN.  MYGN had some bad news on one of their drugs that they were testing and the stock traded considerably lower yesterday.  But into the close MYGN showed strength.  It finished strong.  However MYGN had trouble trading above 45.75:

So after the Close I set an alert at 45.75 for MYGN.  Today the stock traded above 45.75 and then exploded to the upside.   Chop!  This was not a surprise since we learned 45.75 was an important resistance level yesterday, the First Day of trading after significant news.

So set your alerts.  And look for other Second Day plays to capture.

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