After a strong up-move in February, the stock (NYSE:NVS) is consolidating in the last four weeks in a bullish flag pattern above all major EMAs. Any break and close above the recent pivot high of 76.19 will reinstate the bullish trend. An expected upward breakout can take the stock to a target of 78. Daily technical indicators are looking Bullish.
The MACD is moving sideways below its signal line in positive zone. RSI bounced up after receiving support from its 50% zone and the Slow stochastic is showing upward momentum. You should watch this stock closely next week.
This is a guest post by António Costa, acclaimed trader and the popular author of AC Investor Blog. All views and analysis belong to the author.