Pharmaceutical stocks represents a defensive asset when a positive market cycle is about to finish or when it is foreseen a cycle less positive than the previous one. In such context pharma stocks should have an advantage because of inelastic demand for such goods. Novartis ($NVS,$NOVN) is one of the candidate to break up as the price is moving in a triangle...
NVS: novartis ag 2018-06-19 16:02:05 Detected possible FDA approval
I see this going down a bit to $72 but growing after that. Currently a WATCH.
NVS: novartis ag 2018-05-11 18:35:56 Detected possible FDA approval
After touching support around 73$, it's likely to increase 20%
$NVS BULLFLAG WITH TARGETS IN THE 90s
$NVS retrace to .382 and weekly 10 EMA ... reversal today pre market.
Novartis has corrected about 7% towards and below its 200day moving average, and is coming back. A close above 78.35 today, would confirm that. Momentum indicators were a little oversold and are bouncing. Stop at 77.50 Target zone: 82.80 - 84.00
NVS plan to CALL due to the break up of down trend line. Consecutive targets are as of each resistant lines.
The price got out of its ranging bound. The lagging span broke the Kijun and had just bounced on the range rectangle before. We may expect the price to lateralize a bit before the earnings and then, if they are positive, to see an uptrend that would make it reach the higher part of the cloud. A retracement after benefits are taken would provide a good entry point...