Page 157 - THE MARKET WHISPERER

THE MARKET WHISPERER 15 5

Conclusion: Sellers remain in control and are beginning to sell earlier
and lower than at the previous high (the cup shape). The fact that the stock
returns to a low faster, and from a lower price, indicates to us that the
stock is weakening and that it will probably soon break down through the
support line.

Breakdown of Cup and Handle, Myriad Genetics – MYGN

Myriad Genetics begins its trading day with fifteen minutes of sharp

lows, finds support, corrects upwards, returns to a low and creates the
inverse cup [1]. The stock rises again, drops to a low and forms the inverse
handle [2]. The stock breaks down support [3] and continues to drop.
Later it reverses direction upwards. The fact that the stock rises after the