Novartis AG (NVS) – Bullish Recovery with Key Levels to WatchAnalysis Overview:
Novartis AG has shown a strong recovery, bouncing back from its recent low near $91.84, a key support level that held well. The stock is now trading at $103.29 (+3.32%), approaching its mid-term moving averages, signaling renewed momentum.
Key Levels:
Support: $91.84 (Strong base where buyers stepped in).
Resistance: $120.88 (Previous swing high).
Indicators and Patterns:
The price has crossed above the short-term moving average, indicating early bullish momentum.
Volume is picking up, supporting the price recovery.
Breakout above $120.88 would confirm further upside potential.
Trading Idea:
Bullish: Entry on pullbacks near $100, with a target of $120.88 and a stop-loss below $91.
Bearish: Watch for rejection near $120.88 for a potential short opportunity, targeting $100.
Disclaimer:
This analysis is for educational purposes and is not financial advice. Always perform your own research before making trading decisions.
