Some stocks have had little to brag about over the past couple of years.
Mylan (NASDAQ:MYL) has had a rough go of it the past two years, losing nearly 50% of its value. The question is whether or not a pattern opportunity has formed during the stock's decline. It's possible.
Over the past year, MYL may have been forming a bullish inverse head-and-shoulders pattern with a test of the neckline and falling resistance taking place at (1). If a breakout happens here, it could attract buyers to this hard-hit stock.
Another thing that catches our attention is the large, unfilled gap that took place back in 2015 at the $65 zone. Quite often, gaps end up getting filled. If this gap does fill, MYL will make some nice gains from current levels.
Full Disclosure: Members are long this stock with a tight stop.