NOVN
$NOVN Trading Plan - Wed 22 July 2020$NOVN entered gap area yesterday, did not have enough follow thru. I am thinking a dip towards 1.15 (premarket low) or towards 1.06 to 1.09 (200 DMA) would be the best entry, risking 0.98 stop loss. Price Target is just below gap fill at 1.83, for a 1:4 RR.
@architrader
will it move aggressively :)I think it will move fast and aggressive within the next few days .. to be in the safe zone the stop loss is closing under 0.5$
Long term upward movementLooks like we were able to close a green candle on the other side of the bollinger band median this week crossing on weekly chart. To me its a clear indication of indicates long term bullish trend. Win loss ratio looks good as well. What do you guys think about it? Does it really make sense? I didn quite at the right time with so decided not to sell for now. Any input is appreciated!
$NOVN Breaking Out, Gap Fill @ $0.54Above Moving Averages
Gap Fill @ $0.54
Finally Looks Like Breakout Happening
Nitric Oxide Research Going Well
NOVN - New VP... Trend Continues Novan, Inc. is a biotechnology company, which engages in leveraging nitric oxide's natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. Its products pipeline include SB204, SB206, SB208, and SB414. The company was founded by Mark Schoenfisch and Nathan Stasko in 2006 and is headquartered in Morrisville, NC.
SHORT INTEREST
837.72K 08/15/19
P/E Current
-4.17
P/E Ratio (with extraordinary items)
-2.14
Average Recommendation: OVERWEIGHT
Average Target Price: 6.00
$NOVN Novan Inc Flagging, Buy Above $3$NOVN is in a bull flag and on the verge of a breakout. The way to trade is to go long $NOVN above $3. A move above $3 will test the 52-week highs of $3.24.
A move above $3.24 and we will look to close the gap to $4.19.
Risk is minimal as a move above $3 should work out right away. If $NOVN closes the gap, upside is 40%.
Not a bad risk/reward play is it?
As always, use protective stops and trade with caution.
Good luck to all!
Novartis almost a buyPharmaceutical stocks represents a defensive asset when a positive market cycle is about to finish or when it is foreseen a cycle less positive than the previous one. In such context pharma stocks should have an advantage because of inelastic demand for such goods.
Novartis ($NVS,$NOVN) is one of the candidate to break up as the price is moving in a triangle since 2015. the stock doesn't not have an high volatility as other stocks but is one of the main represented of INDEX STOCK HEALTH CARE. There are nice technical indications on the chart that a breakout might happen in the next weeks. At the moment I am expecting a price pullback, where at the end it will be possible to go for an entry long.
Conclusions
At the moment price is consolidating and some other days to reduce RSI value will be needed. It's possible either to open positions at the end of the pullback or when price breaks out the downtrend (2015). Possibility to have it in CHF or $.
NOVN small 1:1 ratio swing trade or dayBouncing in a channel news earnings may provide some change in my pocket
Novartis Ready For A Fresh Leg HigherNovartis 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
