Novartis - Long plan
The price got out of its ranging bound. The lagging span broke the Kijun and had just bounced on the range rectangle before. We may expect the price to lateralize a bit before the earnings and then, if they are positive, to see an uptrend that would make it reach the higher part of the cloud. A retracement after benefits are taken would provide a good entry point for a long, ideally supported by the SSB and with a target given by a flat Kijun level, 80 or 82.
RSI is bullish and if it manages to stay above 60, the scenario would have more weight.
RSI is bullish and if it manages to stay above 60, the scenario would have more weight.
Note
Kumo saved us from entering a botched trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.