NOV trade ideas
$NOV NovarttiHOpe you aren't a hodler!!!
Looks like she's forming a bullflag there. I've taken historical the gradients from the p [rior consolidations. They are all consistent so far. The pitch of the final flag remains to be seen, but likely the light green again. There is a nice ledge there for a waistline and the VWAPs and RSI bands are looking good.
Plenty of down left though.
NOV on path to hit 80c mid July. Following channel path, NOV will likely move up and test old highs at 71.5c, would suprise me if it hit 72 or 73c before pulling back into channel and consolidated before next push up. I wouldnt want to see it break channel aa it always gets heavily sold into. To high for me for an entry here. But if you believe in the growth of the company. Entry with a stop at 56c is ideal.
No follow through for NOV, but next week could be good to accumuNo follow through on the back of the final hour the day before, means it isnt ready to go higher, will need a week to consolidate here before moving higher. A candle like this tells me bulls are in control, so there could be a healthy move next week. But only time tells there, id hold off buying until a move to 67c, but if you are already a holder, a good time to accumulate as long as there js no overall market weakness. (Market weakness will just push stock prices lower due to panic in retail, no sentiment on company performance).
A congratulation to holders in NOV chartGreat news this morning but huge selling pressure to come with it. Final hour however shows strength for a move up tomorrow. I can only give a target of 80c if you wish to enter it.. but id much rather see some more price action before entering for a short term trade. Medium term target with this partnership would ideally be around the $1 mark for NOV.
How i see Novatti playing outStrong volume on friday to mark a change in direction i feel. Novatti has strong FA behind the company and long term will have a share price to match.
Going off the chart, i see a bounce, pull back, bounce (double bottom) coming up in the next 2 weeks, followed by some steady growth.
Novatti was sitting idle for so long, a break out followed by a pullback is usually a bullish sign for a stock. But given fintechs performance over the last 3 weeks, enter with caution and have a stop loss at 30c
NOV Breakout - news-flow set to push NOV higher NOV has broken a symmetrical triangle.
Significant upside.
Fundamentals:
- Growing revenue +50% year on year
- Major partnerships with global leaders - Apple Pay, Google Pay, Union Pay, Alipay, Ripple
- BNPL exposure
- US expansion commenced
- trading at 4X revenue, with peers trading at 15-20x revenue