Technical Analysis

Technical Analysis of NVS Stock

Current Price and Trends

As of the latest data, NVS is trading at $115.58, showing a +2.39% gain in the regular market session. The stock has been in an uptrend, with the price approaching key resistance levels.

Key Technical Indicators

• RSI (6, 12, 14): At 88.64, 77.94, and 75.85 respectively, NVS is in overbought territory, suggesting potential selling pressure.
• MACD: The MACD line is above the signal line (2.46 vs. 0.43), indicating bullish momentum, but the histogram is also rising.
• Stochastic Oscillator: %K (92.66) is above %D (85.94), confirming overbought conditions.
• Bollinger Bands: The stock is trading near the upper band (116.31), signaling increased volatility and potential resistance.

Fibonacci Levels

• Pivot Point: $111.40
• Resistance Levels: $114.63 (R1), $116.63 (R2), $119.86 (R3)
• Support Levels: $108.17 (S1), $106.17 (S2), $102.94 (S3)

The stock is currently testing the first resistance level (R1: $114.63), which may act as a barrier to further upside.

Conclusion

Given the overbought conditions on the RSI and Stochastic Oscillator, combined with the stock approaching the upper Bollinger Band, NVS is likely due for a pullback. The price is near a key resistance level, and the technical indicators suggest selling pressure may emerge soon.

Recommendation: Sell NVS at $115.58 as the stock is technically overbought and approaching resistance. Consider re-entering at the support level of $108.17 if the price corrects.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.