Pfizer: PFE broke out of a large inverse head and shoulder pattern (bullish) from the 43 level. We anticipate a pullback to the point of the breakout (43) and then for the bullish trend to continue into the 60’s.
Trade Idea: Potential Buy PFE @44 - Stop @39 - Take Profit @62
Johnson & Johnson has a similar pattern to PFE. It traded through a 3 year consolidation pattern capped at 160, which it finally broke above earlier this year. The bullish trend should continue for $JNJ through the 200’s and beyond.
Moderna: MRNA is consolidating its incredible gains that it had during the month of July. We expect price to fall back towards the 300 level where support should be found and thus a re-test of the all time highs of 480+.
AstraZeneca: AZN is trading in a potentially bullish consolidation pattern with resistance at 60 and support in the mid 50’s. We believe this pattern will take more time to develop before it breaks significantly higher into the mid 70’s. We anticipate a breakout sometime in October.
Novavax: NVAX is consolidating and building an inverse H&S bullish pattern above trend line support. We expect NVAX to breakout higher in the near term from 250 to 350++
Trade Idea: Potential Buy NVAX: Zone @ 200-230 - Stop @ 170 - Take Profit @ 370
Ocugen: OCGN is trading on trend line support originating from late April. We expect a significant bounce higher from current levels. Resistance comes in near $11.
Trade Idea: Buy OCGN @ Current Price 7.07 - Stop @6 - Take Profit @10
Trade IDEA Summary:
Potential Buy PFE @44 - Stop @39 - Take Profit @62
Potential Buy NVAX: Zone @ 200-230 - Stop @ 170 - Take Profit @370
Potential Buy OCGN @ Current Price 7.07 - Stop @6 - Take Profit @10
*Disclaimer: We own Ocugen.
Disclaimer: The material in this newsletter is for educational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. This newsletter is not a substitute for professional investment services. Past performance is no guarantee of future results, and there is no assurance that investment objectives will be achieved. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. All investments contain risk.