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Novartis AG Message Board

  • carolyn_novice carolyn_novice Dec 18, 2012 8:19 PM Flag

    Breakout after 5 Years NVS @ 63.96

    NVS after 5 years is ready to breakout.

    It has been consolidating (Block houses have been accumulating)
    http://finance.yahoo.com/q/bc?s=NVS&t=5y&l=on&z=l&q=b&c=

    Investopedia explains ‘Wedge’
    Once the price breaks out of the wedge, it is expected to return to the major trend. Technical analysts see a 'breakout' of this wedge pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the lower line). A wedge shape pointing upwards (rising wedge) is used in analyzing an upward price trend within an overall downward price trend. A level wedge is considered a period of consolidation, which will not reverse the current major trend. Finally a wedge pointing downwards (falling wedge) is used to analyze a downward price trend within an overall upward price movement.

    Please keep an eye on the volume, if the Volume exceeds more than 2,000,000 and NVS closes at least 1.5 to 2% above its new high $64.07, the stock will breakout and could move about 10% in the next six months.

    Sincerely,

    Carolyn Novice

    Sentiment: Strong Buy

 
NVS
102.46-0.85(-0.82%)Apr 17 4:02 PMEDT