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Novartis AG Message Board

  • carolyn_novice carolyn_novice Dec 18, 2012 8:23 PM Flag

    Breakout after 5Years NVS @ 63.96

    NVS after 5 years is ready to breakout.

    It has been consolidating (Block houses have been accumulating)

    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
92.69+0.74(+0.80%)Oct 31 4:02 PMEDT

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