Comprehensive non-correlated Novartis $NVS Trading Report
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Long Term Trading Plans for NVS
October 15, 2020, 11:30 am ET
The Technical Summary and Trading Plans for NVS help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this NVS Report.
NVS - (Long) Support Plan
The technical summary data tells us to buy NVS near 78.30 with an upside target of 85.32. This data also tells us to set a stop loss @ 78.07 to protect against excessive loss in case the stock begins to move against the trade. 78.30 is the first level of support below 85.27 , and by rule, any test of support is a buy signal. In this case, support 78.30 would be being tested, so a buy signal would exist.
NVS - (Short) Resistance Plan
The technical summary data is suggesting a short of NVS as it gets near 85.32 with a downside target of 78.30. We should have a stop loss in place at 85.57 though. 85.32 is the first level of resistance above 85.27, and by rule, any test of resistance is a short signal. In this case, if resistance 85.32 is being tested, so a short signal would exist.