Edwars lifesciences: ready for a bull runAfter a sharpe decline the NYSE:EW stock rebounded and now it seems to be ready for a new bull run.
Actually the P&F chart reversed bullish in august, and after one month of trading range it gave another strong buy signal in october, with the quadruple-top at 73.
At the current price of 74 the stock is retracing from the near term high at 76 and given the price target at 92 and the stop loss at 64 it is still possible to entry long for a nice risk/reward trade.
Looking at the fundamentals , EW achieved fantastic operating results in the last years and is a leader in his sector. With adjusted EPS at $2,45 the stock is roughly trading at a P/E of 30, which is high but in line with the high valuation given historically by the market.