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Myokardia Inc. – That stock is going to the moon, or at least I think so!

Myokardia Inc. ( NASDAQ: $MYOK) made an impressive weekly close with an anthology of Weinstein Stage II breakout criterias:

– Breakout from Stage I
– No overhead resistance
– Rising 30-week moving average
– Extremely positive Relative Strength
– Massive volume increase

It certainly has the potential of being a super-winner and to rise… “to the moon”.
The only concern is that the volume increase occured on the breakout instead of as an accumulation during the previous basing stage.

I have no position in this stock and must confess that it is a difficult decision to buy the stock at the present price level especially considering the distance to the stoploss.

On the first day of the week the share price ticks slightly higher (+1.5% at the time of posting) and I may be looking into a minor consolidation phase before opening a long.

Disclosure: I have no position in Myokardia

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