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POLYNOVO LIMITED

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PNV trade ideas

PolyNovo - The bullish divergenceASX:PNV The indicator is indicating that share price should be heading higher. Since market update in january 2021, PolyNovo has lost around 33 per cent of its value due to slowdown in second-quarter sales. PolyNovo has reported an increase in sales of 31 per cent in the first half of the 2021 financial year, despite slower-than-expected sales through October and November. The company's first half result was driven largely by a 75 per cent increase during the first quarter of the financial year, compared with the same quarter a year prior. Sales were particularly strong in the US, where first half sales were up 41 per cent on a year prior. Sales for the month of December exceeded budget. The company also recorded its first sale to Taiwan in December. Sales in Taiwan and New Zealand exceeded sales for the month of December. "In the short-term forecasting sales will be challenging particularly in the US, however the medium-term outlook is strong, and we continue to see surgeons using and referring NovoSorb BTM to their peers," said PolyNovo managing director Paul Brennan. "Once hospitals have more capacity, we will see US and UK sales accelerate just as we have seen in New Zealand and Australia. New geographies offer good opportunities for NovoSorb BTM."
ASX:PNVLong
by ViniX
PNV.ASX flag break for possible $2.80 test. Hello Fellow Trader! PNV.ASX flag break for possible $2.80 test. breaking out of flag with strong sell off into close. A hold above $2.50 would be a great opportunity to target $2.80. PNV.ASX - Polynovo LTD is an Australian-based medical device company that designs, develops and manufactures dermal regeneration solutions using its patented NovoSorb Biodegradable polymer technology. Key Points: - Price holding above the 200 EMA - Price holding above the 50 EMA - RSI above 50 mid-point - Flag broken of upside Key Levels: Support - $2.50, $2.38, 50 EMA, 200 EMA Resistance – $2.60, $2.80 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – $2.51 Supporting Entry – $2.55 Candle Reversals for entry - Bullish Hammer - Bullish Engulfing - Bullish Piercing The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 2.38 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry $2.51 – Target 1 $2.80 = 2.2x Reward to Risk Supporting Entry $2.55 – Target 1 $2.80 = 1.5Reward to Risk
ASX:PNVLong
by tradetheday
PNV Basic Trend FollowingPNV has been in this overall up trend since March of this year. The trend is confirmed by the third touch occurring on the 22nd of November, RSI has just increased from the oversold zone with volume 2-3x any other day since the 20th of September showing bullish momentum. There is a short term resistance at $2.285 which must be kept in mind. Entry: $1.910 - Target: $2.285 - The short term resistance previously mentioned Stop Loss: $1.770 Basic TA, trading with the trend. Open to criticism/feedback as I am relatively new to this.
ASX:PNVLong
by BeerCanCapital
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