In this updated daily bar chart of NVS, below, we can see a strong rally from late June. Prices quickly rallied above the rising 50-day moving average line and by late July they moved above the 200-day line.
In early September the 50-day line crossed above the 200-day line for what is commonly called a golden cross. This moving average cross is considered bullish.
The On-Balance-Volume (OBV) line turned up in July signaling more aggressive buying but has been stalled the past six weeks. A new high in the OBV line in the near term would help the bullish case.
The Moving Average Convergence Divergence (MACD) oscillator has crossed to the upside this month for a fresh outright go long signal.
In this weekly bar chart of NVS, below, we can see a large base pattern. There is some resistance above the market but it looks like a close above $88 will be a major upside breakout.
The weekly OBV line needs to improve to confirm the rally, while the MACD oscillator is bullish.
In this Point and Figure chart of NVS, below, we can see a breakout of sorts at $85. An upside price target of $109 is being projected.
Bottom line strategy: NVS is looking like it can continue higher. Traders and investors who are out could go long in the $85 area and add on strength. Risk below $81 and look for a rally to the $100-$109 area in the months ahead.