Buyers starting the move up but still some work to do

Potential Buy Entry Alert to Watch MYX

Time Frame : Daily/Weekly

Sector : Pharmaceuticals and Healthcare

Key Stats : $1.16 Billion Market Cap, VWAP 0.73, ASX Ranking 216, 4 Week Av Turnover $4,034,725, Current Turnover (Intraday as at time of alert) $603,663, PE 24.8.

Company Overview : Mayne Pharma Group Limited (MYX) is a pharmaceutical company that develops and manufactures branded and generic products, which it distributes directly or through distribution partners in Australia, USA, Europe and Asia. Mayne Pharma has two drug development and manufacturing facilities based in Salisbury, Australia and Greenville, NC, USA.

Broker Consensus : HOLD


MYX – Mayne Pharma Group Limited

Price recently pushed down to major support around 0.60 where it has bounced with buyers stepping into the action looking for a bargain. It is early stages yet but the long term buyers are starting to build so we are now watching for a kick up followed by a higher low for the buy entry setup.

Stock Code : MYX – Mayne Pharma Group Limited

Company Website : www.maynepharma.com

Current Price : 0.735

Status : On watch for potential higher low and move through 0.90