I like this stock.. Front lines of Covid testing so has good name recognition right now which generally causes retail investors to buy driving pricing up. Earnings report comes out in a few days which i am thinking should be higher than anticipated. (beat every quarterly estimate in 2019)
Long long long..
No real charting on this one.. Grabbed some of this after reading the news about them running the FDA approved study for COVID 19 solutions..
www.bloomberg.com
Also earning come out in about a week which should be up from hydroxychloroquine sales..
Grabbed some June and July Call options here.. Looking for it to carry up towards $95+
NVS was among the high cap losers yesterday on the renewed coronavirus tensions and pulled back dramatically (-6.90%). This however can be the buy opportunity of the next several months as it hit the 1D MA200 (orange line) and is approaching the Higher Low trend line of the 1W Channel Up (RSI = 45.378, MACD = 1.640, ADX = 65.865).
Even though the MACD indicated...
Name Novartis A G
Symbol NVS
Price to Activate $99.85
Stop Loss $92.85
1st Target $107.83
2nd Target $119.82
The Market continues to climb. Maybe stocks do grow to the moon. Our stock pick for tomorrow is NVS. Have a great evening and happy trading!
- Bernard
SIX:NOVN
- Price has retraced to the major trendline & 200ma
- A break of the daily downtrend would confirm a good entry to get on the trend
- MANAGE YOUR RISK -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
NYSE:NVS earnings and sales also beat estimates and the company raised its guidance for the year. Its Pharmaceuticals business unit grew 10% driven by performance of key drugs like Cosentyx, Entresto and Lutathera while the Sandoz division rose 1% as strong uptake of biosimilars was offset by price erosion in the United States.
AVERAGE ANALYSTS PRICE TARGET ...
Novartis RSI is the most oversold it has been in 9 years
It now sits on a strong support with a range of just 2 dollars below current levels
Fib retracement of 1.618 takes this to 74 dollars before the turnaround
All of pharma has taken a hit over the last 4 weeks without real justification.
I believe all pop up after they announce earnings throughout the week
NVS Novartis owns or makes a slew of pharmacopial needs for a variety of medical needs.
Little dip during recent pullback.
Watching Friday ads, all brand names no companies. All Novartis or made for another company by Novartis.
