Nuvalent, Inc. (NUVL) is on the cutting edge of cancer therapies with innovative small molecules. We do not have a lot of trading history but things are looking up on the charts. Let's check.
In this daily bar chart of NUVL, below, we can see that this company went public at the end of last July and had an initial rally to a September high. Prices quickly turned lower as weakness in the broad market took most stocks lower.
NUVL made a low in May and a shallow retest in June. Prices are trading just above the rising 50-day moving average line but below the declining 200-day line.
The On-Balance-Volume (OBV) line was steady to the middle of March and has since soared higher signaling a shift to some very aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator recently moved above the zero line for an outright buy signal.