Reasons for bullish bias:
- Price gave weekly resistance breakout
- No divergence
- Bullish trend
Here are the recommended trading levels:
Entry Level(Buy limit): 299.32
Stop Loss Level: 244.90
Take Profit Level 1: 353.74
Take Profit Level 2: Open
Johnson & Johnson (J&J) is reportedly in advanced discussions to acquire Shockwave Medical ( NASDAQ:SWAV ), a leading player in the realm of cardiovascular devices. This strategic maneuver by the healthcare behemoth signifies a bold step towards expanding its foothold in the burgeoning cardiovascular market.
According to reports from the Wall Street Journal, the...
On 2/15/2024, Shockwave Medical (SWAV) reported earnings of $1.16 per share on revenue of $202.98 million for the fourth quarter ended December 2023. The consensus earnings estimate was $0.92 per share on revenue of $199.45 million.
NASDAQ:SWAV is a potential low risk pullback back in the handle of a large 27 week cup with handle base (zoom out to weekly chart).
Very interesting setup as bulls attempt to close on a good note for the week.
NASDAQ:SWAV for early next week looks like it wants to go.
Some #AI and related tech stocks are very extended so potentially money rotating back into other growth areas.
Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend (Crossfire Points), usually resulting in reactions.
Rejected at the supply zone with an ominous inverted hammer + hanging man daily candle combo. Due for a pull-back. This massive cup needs to form a handle. Note the downside gap which would serve as an excellent handle target.
Price is trying to break channel resistance line but has failed to do so today.
Price is above the 50% mark and below the .382.
No rising wedges noted in this chart and could have been a case of overvaluation causing the fall.
Earnings 2-16 AMC.
Short interest is around 3.3%.
No recommendation
Descending triangle forming.
Neutral until broken.
Price is just below the .236 of the trend up.
No recommendation/short with break of bottom support line. Price is trying to break upper support line today.
Short interest is around 3.5%
looking for the final leg in this name. XLV + ES going down should also support this
When (and if) price gets there, time for a rebound. The red line is the stop loss.
Some notes that made SWAV a lower prob setup.
The big drops near and below the 50SMA, took quite a long time to gain back. This is a sign that it is not institutional buying supporting the wedge and breakout.
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Triangles are neutral patterns until broken.
Price has been struggling at the descending trendline of the triangle for a few days now. I am watching this one closely.
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal...
![SWAV: HOW-TO [TTI] Minervini MonAlert](https://s3.tradingview.com/u/uXmUxI7q_mid.png "HOW-TO [TTI] Minervini MonAlert")
