Sellers pressure price lower to cancel the entry alert

MYX has not found the buying pressure that we expected and pushed lower through 0.56 so the alert is now cancelled.

Alert History

Previous Alert 16/10/19

MYX Buy Entry alert is still active. Price did touch 0.61 at the time of the alert so was void and has not traded there since. Price also did trade down to 0.57 but not through the level so we are happy to keep the alert active. We are moving the entry trigger to 0.62 now just above the recent high at 0.61 and the stop loss to 0.56.

Original Buy Entry Alert 14/10/19

New Buy Entry Alert MYX

Time Frame : Daily

Sector : Pharmaceuticals, Biotechnology and Life Sciences

Key Stats : $932.13 Million Market Cap, VWAP 0.585, ASX Ranking 261, 4 Week Av Turnover $4,619,401, Current Turnover (Intraday as at time of alert) $552,479.

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

MYX is on the move up of longer term lows as buyers continue to hold higher levels. We are happy to buy on a push up through 0.61 and hold the stop loss at 0.57. If price falls down through 0.57 prior to entry then we will cancel the alert and re-assess the action.

Stock Code : MYX – Mayne Pharma Group Limited

Company Website :

Current Price : 0.595

New Buy Entry (Trigger Level) : 0.61

Potential Sell Exit Zone (Stop Loss/Cancel Level) : 0.57

Status : On watch for Buy Entry Trigger