NAVAMEDIC (NAVA) | Perfect Technically but Fundamentally So-So!
Hi,
Navamedic ASA, a MedTech and pharmaceutical company, in-licenses, buys and markets pharmaceuticals and other health care products in the Northern European region.
Considering technical viewpoints then Navamedic has started to approach a pretty strong support area, a lot of criteria make up a strong crossing area. To be honest, I don't know much about Navamedic fundamentals but I can say, if you see some perspective in the future then this would be your perfect spot to buy it if you don't see then SKIP IT!!
Technically a strong support area/buy-zone consists of:
1) A very strong resistance level becomes support. The price tried to break above the lower orange line 9(!) years and in the last year, it finally was successful. Now, this very strong resistance should act as a support level.
2) Inside the green buy-zone are also Monthly EMA50 and EMA100, plus Weekly EMA200 - all of them should act as support levels.
3) Fibonacci Golden ratio - Fibo retracement 62%
4) Navamedic becomes a member of a 50% club if the price reaches into the marked area.
5) Weekly timeframe AB=CD
6) Weekly timeframe channel projection
It should be a pretty good spot to gain short-term profits, a perfect area should stay between 11.00-12.50
As said, do your own fundamental research and if this matching with my technical analysis viewpoints then you are ready to go! If it doesn't match then...skip it!!
Regards,
Vaido
Navamedic ASA, a MedTech and pharmaceutical company, in-licenses, buys and markets pharmaceuticals and other health care products in the Northern European region.
Considering technical viewpoints then Navamedic has started to approach a pretty strong support area, a lot of criteria make up a strong crossing area. To be honest, I don't know much about Navamedic fundamentals but I can say, if you see some perspective in the future then this would be your perfect spot to buy it if you don't see then SKIP IT!!
Technically a strong support area/buy-zone consists of:
1) A very strong resistance level becomes support. The price tried to break above the lower orange line 9(!) years and in the last year, it finally was successful. Now, this very strong resistance should act as a support level.
2) Inside the green buy-zone are also Monthly EMA50 and EMA100, plus Weekly EMA200 - all of them should act as support levels.
3) Fibonacci Golden ratio - Fibo retracement 62%
4) Navamedic becomes a member of a 50% club if the price reaches into the marked area.
5) Weekly timeframe AB=CD
6) Weekly timeframe channel projection
It should be a pretty good spot to gain short-term profits, a perfect area should stay between 11.00-12.50
As said, do your own fundamental research and if this matching with my technical analysis viewpoints then you are ready to go! If it doesn't match then...skip it!!
Regards,
Vaido