For weeks, the market and certain sectors have been operating under uncertainty as doubts over the direction of President Trumps administration were growing. After Tuesday nights speech, investors are beginning to get some clarity, allowing a number of companies that have been locked in a range to begin showing signs that they are ready to move higher.

Todays three big stock charts look at Myriad Genetics, Inc. (NASDAQ:MYGN), Wal-Mart Stores Inc (NYSE:WMT) and Nucor Corporation (NYSE:NUE). These three companies have experienced recent technical trends that suggest they areready to shift back into rally mode.

Myriad, along with a large portion of the health care and biotechnology sectors, has been held back by uncertainty around the repeal and replacement of Obamacare. With this option becoming less likely, these stocks are starting to rally again.

MYGN shares recently broke above their 50- and 100-day moving averages as volume on the stock saw an increase. This suggests that the technical traders are now getting behind the shift in trends.

While breaking above the 50-day, this trendline has started to transition into a rising pattern for Myriad. Our stock modeling programs show that MYGNand other stocks are twice as likely to continue their trend when the 50-day is moving higher.

Myriad shares are coming off an overbought reading after the recent positive earnings results. This suggests that we may see a short-term decline in MYGNshares theres a catch here though.

From a long-term perspective, the market technicals view Myriad Genetics as an oversold, undervalued stock. This means that MYGNshares could more easily remain in short-term overbought territory as the crowd is only beginning to migrate into the stock.

Watch for a pause at $20, but from there the shares should find plenty of technical strength to rally higher.

The retail sector has taken a beating as of late, as the fourth-quarter earnings results have been underwhelming to say the least. One standout, at least from a technical perspective, is Walmart. The SPDR S&P Retail (ETF) (NYSEARCA:XRT) is trading 2.5% lower over the last 12 months compared to the 6% return for WMTshares.

Now, the technical picture for Walmart shares isimproving from an intermediate-term perspective.

Last week, WMT shares broke above the 200-day moving average on a positive earnings report. This move also broke Walmart stock into a technically overbought reading that we expected to see force a pullback, which is exactly what happened.

Now, WMT shares are consolidating around the 200-day trendline, just above $70. The support from this trendline suggests that the stock is now gaining technical strength. Supporting that theory is the fact that Walmarts 50-day trendline is now moving higher. This bullish transition improved the technical outlook for the largest retailer.

Weve seen overhead resistance at $75 for WMT shares since June 2016; however, the growing momentum looks to overtake this hurdle over the next few weeks.

Next Page

Here is the original post:
3 Big Stock Charts for Thursday: Myriad Genetics, Inc. (MYGN), Wal-Mart Stores Inc (WMT) and Nucor Corporation (NUE) - Investorplace.com