Short term view - NOVARTIS : Major support reinstated
The resistance has been passed, the trend becomes positive as we now have a succession of ascending peaks and troughs.The next target is at CHF 85.40. The invalidation level is below CHF 78.00.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The resistance has been reached, it causes the fall.
Novartis is a multinational healthcare group based in Switzerland. Co. provides healthcare solutions that address the evolving needs of patients and societies worldwide. Co.'s broad portfolio includes innovative medicines, eye care products and cost-saving generic pharmaceuticals. Co.'s operations are organized along three operating divisions: Innovative Medicines Division; Sandoz Division; and Alcon Division. Co.'s operations are supported by the Novartis Institutes for BioMedical Research and Novartis Business Services.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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