$NVS has been in a consolidation channel for 8 months now. It's tried and failed to breakout several times... I'm looking for this to break to the upside soon. With this much sideways action I have to think when it goes it should gain $10 to $15 in very short order. All TBD. I have an alert $0.10 above the last high at $92.20. Ideas, not investing / trading advice.
NVS - It is in 4th wave of C wave Y wave after the huge sell off.
sell on choppy bounce would be the trade set up in this case no matter what will be actual count in different alternates.
Give thumbs up if you really like the trade idea.
We have technical figure Triangle in Swiss company Novartis International AG (NOVN.vx) at daily chart. Novartis International AG is a Swiss multinational pharmaceutical company based in Basel, Switzerland. It is one of the largest pharmaceutical companies by both market capitalization and sales. The Triangle has broken through the support line at 16/10/2020, if...
Possible stop below 81
NV is high
Possible targets 2: 109.7 117
Not a recommendation. I do not see this pattern often so sorry if my triangles are crooked (o:
Happy Trading
Novartis (NVS) reported earnings last week. A Golden Cross event (considered Bullish) occurred in the stock. The chart includes a technical and fundamental analysis of Novartis.
NVS bounced nicely at my A point .382 FIB.
Unless we get dramatic news out of this one i still see us heading lower after a visit up around 86.
We should see a full 50% or even 61.8% retrace before heading back towards 90+
I can see this scenario playing out. A full ABC correction bringing us to a .5 retrace then a nice push up back toward 90. This one seems to be running up on news along in the short term. I am still holding my Fall expiring call options at a $100 strike. in the red right now, but no reason to dump yet.
Holding for now, and might even rebuy once i see the...
In the NOVARTIS story , we have to scenarios :
• If the market breaks the 81,50 we can go back to 79,09 ;
• if it returns to the 84,94 then it will go up until 89,32.
NVS needs to react to this 83.15 fib level.
Mfl and RSI both oversold. MACD looking like it could be flattening out..
Needs to show me something before i add to my call positions..
Gapped up over the weekend. We tend to have flat days after gap ups overnight. Likely to do the same today. Earnings tomorrow, so that might change things..
Still in Call options right now up a few bucks as of Friday nothing crazy. Confident this thing will break $100 before the end of summer.
Very Happy with NVS at the end of trading today getting back above 89. The bounce off of the .618 Fib line looks solid. Earnings come out next week, and in case anyone thought NVS only did COVID19 bullshit.. they do other stuff too. Look at their recent RMAT designation of their drug Kymriah
There are other things happening in the world other than COVID.....
