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Analysis: #NASDAQ $NOVN

Case 401 #Novan Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#NOVN 1/4
Chart 1
Weekly Chart: The #SMA 50 at 1.2256 continues to underpin upside probes but price needs to first close above synthetic #resistance at 1.3524 then the Sept. 2017 trendline at 2.7845 for #bullishness. Price is currently .....

NOVN 2/4
..... targeting Dec. 2018 #pivot at 0.7000 below that SMA 20 at 0.4732, then Mar. 2020 #trendline at 0.4112. A loss of 0.3888 will be disastrous as it's the last level of #support.

NOVN 3/4
Chart 2
Daily Chart: An unfilled gap at 0.9200 - 3.061 exists. Price is trading back below the SMA 200 at 1.0143 and the SMA 20 and 50 are at 0.6611 and 0.5459 respectively.

The #Strategy is printed on the image.

$NOVN 4/4
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#NASDAQ #Novan #NOVN #SMA #resistance #bullishness #pivot #trendline #support #Strategy

More from @malteseinvest see all

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malteseinvestor
@malteseinvest
Analysis: #NYSE $UPS

Case 406 #UnitedParcelService Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#UPS 1/4
Chart 1
Monthly Chart: The strong declines seen in Feb-Mar. 2020 were halted at the 2004 #pivot and #SMA 200 at 85.46 and 84.64 respectively. Price has broken above the sloping 2018 trendline #resistance and is attempting to .....

UPS 2/4
..... close above the 1999 #trendline at 143.78 - a close above targets 162.09 and further up 184.26 long term.

UPS 3/4
Read 4 tweets
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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $NTAP

Case 405 #NetApp Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#NTAP 1/4
Chart 1
Monthly Chart: The strong decline seen in Feb. 2020 saw closes below the #SMA 50 (support since 2016) and #Fib. 0.50 at 49.24. Watch for closes below the SMA 200 at 37.51 and controlling pivot 33.51 - a break .....

NTAP 2/4
..... below the latter could quickly target 27.02-26.53 (Fib. 0.786 & #pivot).

NTAP 3/4
Read 4 tweets
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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $QCOM

Case 404: ##Qualcomm Incorporated

UPDATE from Nov 25, 2019:

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#QCOM 1/3
Chart 1
Price came very close to triggering our first (partial) exit at 107.50. A new synthetic #resistance has appeared, sloping at 123.17. Our final exit is, for now, 123.30 as we continue to watch for .....

QCOM 2/3
..... a possible close above. The Stop has been raised to 82.00 (on close) from 47.50.

The update is printed on the image.

$QCOM 3/3
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